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HSBC plans six-year buffered accrual securities linked to S&P 500
By Susanna Moon
Chicago, March 29 - HSBC USA Inc. plans to price buffered accrual securities due April 5, 2018 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
The coupon will accrue at 5.6% for each day that the index closes at or above the 70% coupon barrier level. Interest is payable quarterly.
If the index finishes above the 70% trigger level, the payout at maturity will be par.
Otherwise, investors will lose 1% for every 1% decline beyond 30%.
HSBC Securities (USA) Inc. is the agent.
The notes price on March 30 and settle on April 4.
The Cusip is 4042K1D34.
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