HSBC plans buffered market participation notes on Financial Select

By Wendy Van Sickle

Columbus, Ohio, Feb. 25 – HSBC USA Inc. plans to price 0% buffered market participation securities due June 19, 2020 tied to the Financial Select Sector SPDR fund, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par plus any fund gain, up to a maximum return of at least 12%.

Investors will receive par if the fund falls by up to 10% and will lose 1% for each 1% decline beyond 10%.

HSBC Securities (USA) Inc. is the agent.

The notes will price on March 14 and settle on March 19.

The Cusip number is 40435UGP3.

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