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HSBC plans six-year buffered accrual securities linked to Euro Stoxx
By Susanna Moon
Chicago, March 29 - HSBC USA Inc. plans to price buffered accrual securities due April 5, 2018 linked to the Euro Stoxx 50 index, according to an FWP filing with the Securities and Exchange Commission.
The coupon will accrue at 5.5% for each day that the index closes at or above the 65% coupon barrier level. Interest is payable quarterly.
If the index finishes above the 65% trigger level, the payout at maturity will be par.
Otherwise, investors will lose 1% for every 1% decline beyond 35%.
HSBC Securities (USA) Inc. is the agent.
The notes price on March 30 and settle on April 4.
The Cusip is 4042K1D26.
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