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HSBC plans 50%-trigger performance securities with no cap on S&P 500
By Susanna Moon
Chicago, Dec. 21 - HSBC USA Inc. plans to price 0% trigger performance securities due Dec. 30, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 200% to 215% of any 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 be fully exposed to the decline from the initial level if the index falls by more than 50%.
HSBC Securities (USA) Inc. is the agent.
The notes will price on Dec. 23 and settle on Dec. 30.
The Cusip number is 40433K744.
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