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HSBC plans five-year trigger performance securities on Euro Stoxx 50
By Toni Weeks
San Diego, July 3 - HSBC USA Inc. plans to price 0% trigger performance securities due July 31, 2017 linked to the Euro Stoxx 50 index, according to an FWP filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par of $10 plus 200% to 215% of the index return. The exact participation rate will be set at pricing.
Investors will receive par if the index falls by up to 50% and will be fully exposed to losses from the initial level if the index falls by more than 50%.
The notes (Cusip: 40433M468) are expected to price July 26 and settle July 31.
HSBC Securities (USA) Inc. will be the underwriter, and UBS Financial Services Inc. will act as agent.
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