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HSBC plans to price capped gears linked to index basket
By Angela McDaniels
Tacoma, Wash., Dec. 23 – HSBC USA Inc. plans to price 0% capped gears due Feb. 26, 2021 linked to a basket consisting of the Euro Stoxx 50 index with a 40% weight, the FTSE 100 index with a 20% weight, the Nikkei 225 index with a 20% weight, the Swiss Market index with a 7.5% weight, the S&P/ASX 200 index with a 7.5% weight and the Hang Seng index with a 5% weight, according to an FWP filing with the Securities and Exchange Commission.
If the basket’s return is positive, the payout at maturity will be par of $10 plus 300% of the basket’s return, subject to a maximum return that is expected to be 18% to 20% and will be set at pricing. If the basket’s return is negative, investors will be exposed to the decline.
UBS Financial Services Inc. and HSBC Securities (USA) Inc. are the agents.
The notes will price Dec. 27.
The Cusip number is 40438B376.
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