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HSBC USA to price trigger performance securities linked to S&P 500
By Tali Rackner
Norfolk, Va., Feb. 5 – HSBC USA Inc. plans to price 0% trigger performance securities due Feb. 26, 2021 linked to the S&P 500 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 of $10 plus 137% to 147% of the index return. The exact participation rate will be set at pricing.
If the index return is zero or negative and the final level is greater than or equal to the trigger level, 75% of the initial level, the payout will be par.
If the final level is less than the trigger level, investors will be fully exposed to the decline in the index from its initial level.
UBS Financial Services Inc. and HSBC Securities (USA) Inc. are the agents.
The notes will price on Feb. 24 and settle on Feb. 29.
The Cusip number is 40434N846.
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