HSBC plans growth notes tied to iShares MSCI Emerging Markets

By Jennifer Chiou

New York, Feb. 5 - HSBC USA Inc. plans to price 0% growth notes due Feb. 28, 2020 linked to the iShares MSCI Emerging Markets index fund, according to an FWP with the Securities and Exchange Commission.

The payout at maturity will be par plus 113% to 118% of any increase in the exchange-traded fund's share price, with the exact participation rate to be set at pricing.

Investors will receive par if the share price declines by 25% or less and will share fully in losses if the fund declines beyond 25%.

The notes (Cusip: 40432XTS0) are expected to price on Feb. 21 and settle on Feb. 28.

HSBC Securities (USA) Inc. is the agent.

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