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HSBC USA plans to price one-year gold participation notes
By Toni Weeks
San Diego, Feb. 3 - HSBC USA Inc. plans to price one-year 0% capped gold participation notes linked to the price of gold, according to an FWP filing with the Securities and Exchange Commission.
If the gold return is positive, the payout will be par plus the return, subject to a maximum cap that is expected to be 14% to 17%.
If a trigger event occurs, investors will be fully exposed to the decline in the gold return. If the gold return is zero or negative but above the trigger level, the payout will be par.
A trigger event occurs if the final price of gold is less than 10% of the initial price.
The final terms for the notes (Cusip: 4042K1DM2) will be determined at pricing.
HSBC Securities (USA) Inc. is the agent.
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