HSBC plans barrier enhanced participation notes linked to Russia ETF

By Marisa Wong

Morgantown, W.Va., Dec. 29 – HSBC USA Inc. plans to price 0% barrier enhanced participation notes due Jan. 11, 2021 linked to the VanEck Vectors Russia exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.

If the ETF return is greater than zero, the payout at maturity will be par plus at least 114% of the ETF return. If the ETF finishes flat or falls by up to 30%, the payout will be par. Otherwise, investors will be fully exposed to the ETF decline.

HSBC Securities (USA) Inc. is the agent.

The notes will price Jan. 4.

The Cusip number is 40433UK39.

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