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HSBC plans trigger return optimization notes due 2019 tied to S&P 500
By Devika Patel
Knoxville, Tenn., March 8 – HSBC USA Inc. plans to price 0% trigger return optimization securities due March 29, 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 35% to 39%. The exact cap will be set at pricing.
If the index falls by up to the 75% trigger level, the payout will be par.
Otherwise, investors will be exposed to any losses.
UBS Financial Services Inc. and HSBC Securities (USA) Inc. are the agents.
The notes (Cusip: 40434N598) will price on March 28 and settle March 31.
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