HSBC plans to issue fixed-coupon buffered notes tied to S&P 500 index

By Tali Rackner

Norfolk, Va., Sept. 3 – HSBC USA Inc. plans to price buffered notes with a fixed annual coupon due Sept. 12, 2022 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

The coupon will be at least 4.25% and will be set at pricing.

If the index return is greater than or equal to the 30% buffer level, the payout at maturity will be par.

Investors will lose 1% for every 1% decline beyond the buffer.

HSBC Securities (USA) Inc. is the agent.

The notes will price on Sept. 4 and settle on Sept. 10.

The estimated initial value is between $950 and $1,000 per note.

The Cusip number is 40433UAB2.

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