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HSBC to price three-year capped buffered notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., April 1 – HSBC USA Inc. plans to price 0% buffered market participation securities due April 30, 2018 linked to the S&P 500 index, 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 that is expected to be at least 21% and will be set at pricing. Investors will receive par if the index declines by no more than 15% and will lose 1% for every 1% that the index declines beyond 15%.
HSBC Securities (USA) Inc. is the underwriter.
The notes will price April 27 and settle April 30.
The Cusip number is 40433BN20.
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