HSBC to price growth opportunity CDs due 2022 linked to HSBC Vantage5

By Marisa Wong

Morgantown, W.Va., Dec. 18 – HSBC Bank USA, NA plans to price 0% growth opportunity certificates of deposit due March 28, 2022 linked to the HSBC Vantage5 Index (USD) Excess Return, according to a term sheet.

The payout at maturity will be par plus 105% to 115% of the index return, subject to a minimum payout of par. The exact participation rate will be set at pricing.

The index uses modern portfolio theory principles and the related concept of efficient frontier, aiming to maximize returns for a given level of risk. It has a volatility target of 5%.

HSBC Securities (USA) Inc. is the agent. Incapital LLC is distributor.

The CDs are expected to price Dec. 21.

The Cusip number is 40434YSR9.

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