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HSBC plans buffered market participation notes on Energy Select fund
By Toni Weeks
San Luis Obispo, Calif., Dec. 8 – HSBC USA Inc. plans to price 0% buffered market participation securities due Dec. 26, 2017 linked to the Energy Select Sector SPDR fund, according to an FWP filing with the Securities and Exchange Commission.
If the index return is greater than zero, the payout at maturity will be par plus the index return, subject to a maximum return of at least 65% that will be set at pricing. Investors will receive par if the index declines by up to 10% and will lose 1% for every 1% that the index declines beyond the 10% buffer.
HSBC Securities (USA) Inc. is the underwriter.
The notes will price Dec. 22 and settle Dec. 26.
The Cusip number is 40433BVN5.
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