Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers H > Headlines for HSBC USA Inc. > News item |
HSBC plans to price airbag performance securities linked to S&P 500
By Angela McDaniels
Tacoma, Wash., Nov. 7 – HSBC USA Inc. plans to price 0% airbag performance securities due Nov. 29, 2019 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 plus 120% to 130% of the index return. The exact upside participation rate will be set at pricing. If the index return is zero or negative but not less than negative 20%, the payout will be par. Otherwise, investors will lose 1.25% for every 1% that the index declines beyond 20%.
HSBC Securities (USA) Inc. is the underwriter with UBS Financial Services Inc. as agent.
The notes are expected to price Nov. 24 and settle Nov. 28.
The Cusip number is 40434F405.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.