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HSBC plans airbag return optimization notes linked to Euro Stoxx 50
By Angela McDaniels
Tacoma, Wash., April 17 – HSBC USA Inc. plans to price 0% airbag return optimization securities due April 30, 2018 linked to the Euro Stoxx 50 index, according to an FWP filing with the Securities and Exchange Commission.
If the index's return is positive, the payout at maturity will be par plus 150% of the index's return, subject to a maximum return of 38% to 42% that will be set at pricing.
If the index's return is zero or negative but the index does not decline by more than 15%, the payout will be par.
If the index declines by more than 15%, investors will lose 1.1765% for every 1% that it declines beyond 15%.
HSBC Securities (USA) Inc. is the underwriter with UBS Financial Services Inc. as agent.
The notes are expected to price April 28 and settle April 30.
The Cusip number is 40434G536.
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