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HSBC to price 3.5-year barrier AMPS linked to S&P Europe 350 index
By Marisa Wong
Morgantown, W.Va., Aug. 31 – HSBC USA Inc. plans to price 0% barrier Accelerated Market Participation Securities due March 2019 linked to the S&P Europe 350 Low Volatility 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 150% of the index return, subject to a maximum return that is expected to be at least 42% and will be set at pricing. Investors will receive par if the index declines by 20% or less and will be fully exposed to the decline from the initial level if it declines by more than 20%.
HSBC Securities (USA) Inc. is the underwriter.
The notes will price and settle in September.
The estimated initial value of the notes on the pricing date is expected to be between $920 and $970 per $1,000 principal amount.
The Cusip number is 40433B7L6.
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