HSBC plans to price barrier capped market participation notes on FTSE, Stoxx

By Emma Trincal

New York, Dec. 4 – HSBC USA Inc. plans to price 0% barrier capped market participation securities due Dec. 18, 2025 tied to the FTSE 100 index and the Euro Stoxx 50 index, according to an FWP filing with the Securities and Exchange Commission.

If the return of each index is positive, the payout at maturity will be par plus 2 times the return of the lesser performing index, capped at par plus at least 73.44%. The exact cap will be set at pricing.

Investors will receive par if either index falls by up to 35%.

Otherwise, investors will be fully exposed to the lesser performing index’s decline from its initial level.

HSBC Securities (USA) Inc. is the agent.

The notes will price on Dec. 15 and settle on Dec. 18.

The Cusip number is 40438CK26.

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