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HSBC plans trigger return optimization notes linked to S&P 500 index
By Tali Rackner
Norfolk, Va., Jan. 7 – HSBC USA Inc. plans to price 0% trigger return optimization securities due Jan. 31, 2019 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the index finishes above its initial level, the payout at maturity will be par of $10 plus double the gain, up to a maximum return of 32% to 36%. The exact cap will be set at pricing.
If the index falls by up to the 80% trigger level, the payout will be par.
Otherwise, investors will be exposed to any losses.
HSBC Securities (USA) Inc. is the underwriter. UBS Financial Services Inc. is agent.
The notes will price on Jan. 26 and settle on Jan. 29.
The Cusip number is 40434K172.
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