HSBC amends maturity of contingent absolute return notes on S&P 500

By Marisa Wong

Madison, Wis., June 23 – HSBC USA Inc. amended the maturity date and participation rate of its upcoming 0% contingent absolute return performance securities linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

The securities are due Dec. 31, 2019, moved up from June 30, 2020.

If the index finishes at or above the initial level, the payout at maturity will be par plus the gain. The participation rate was previously expected to be 100% to 105% of the gain.

If the index falls by up to the 65% trigger level, the payout will be par plus the absolute value of the return.

Otherwise, investors will be fully exposed to any losses.

UBS Financial Services Inc. and HSBC Securities (USA) Inc. are the agents.

The notes will price on June 24 and settle on June 27.

The Cusip number is 40434C352.

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