HSBC plans to price airbag performance notes linked to Euro Stoxx 50

By Marisa Wong

Madison, Wis., May 2 - HSBC USA Inc. plans to price 0% airbag performance securities due May 31, 2024 linked to the Euro Stoxx 50 index, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 203% to 223% of any index gain with the exact participation rate to be set at pricing.

Investors will receive par if the index falls by up to 50% and will lose 2% for every 1% decline beyond 50%.

HSBC Securities (USA) Inc. is the underwriter with UBS Financial Services Inc. as agent.

The notes will price May 28 and settle May 30.

The Cusip number is 40434C618.

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