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HSBC plans four-year buffered income plus notes linked to Russell 2000
By Susanna Moon
Chicago, Oct. 1 - HSBC USA Inc. plans to price buffered income plus notes due Sept. 28, 2016 linked to the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.
If the index closes at or above the initial level on any annual observation date, the coupon will be the performance-based coupon of 3.5% plus the minimum rate of 2.5%. Otherwise, the coupon will be the minimum rate of 2.5%. Interest will be payable annually.
If the index falls by up to 20%, the payout at maturity will be par.
Otherwise, investors will lose 1% for every 1% decline beyond 20%.
HSBC Securities (USA) Inc. is the agent.
The notes will price on Oct. 25 and settle on Oct. 30.
The Cusip number is 4042K15Z2.
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