HSBC plans 10-year trigger performance securities linked to S&P 500

By Toni Weeks

San Luis Obispo, Calif., Nov. 1 - HSBC USA Inc. plans to price 0% trigger performance securities due Nov. 30, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par of $10 plus 150% to 170% of any index gain, with the exact participation rate to be set at pricing.

Investors will receive par if the index falls by up to 50% and will be fully exposed to losses if the index finishes below the 50% trigger level.

HSBC Securities (USA) Inc. is the agent.

The notes (Cusip: 40434B834) will price Nov. 25 and settle Nov. 29.

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