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HSBC plans trigger performance notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., Oct. 2 - HSBC USA Inc. plans to price 0% trigger performance securities due Oct. 31, 2018 linked to the S&P 500 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 110% to 120% of the index return. Investors will receive par if the index falls by up to 40% and will be fully exposed to losses from the initial level if it falls more than 40%.
The exact participation rate will be set at pricing.
HSBC Securities (USA) Inc. is the underwriter, and UBS Financial Services Inc. is the agent.
The notes are expected to price Oct. 28 and settle Oct. 31.
The Cusip number is 40434B503.
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