HSBC plans five-year uncapped notes with 25% buffer linked to S&P 500

By Susanna Moon

Chicago, July 6 – HSBC USA Inc. plans to price 0% Buffered Uncapped Market Participation Securities due July 29, 2021 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par plus at least 100% of any index gain, with the exact upside participation rate to be set at pricing.

Investors will receive par if the index falls by up to 25% and will lose 1% for every 1% decline beyond 25%.

HSBC Securities (USA) Inc. is the agent.

The notes will price on July 22 and settle on July 29.

The Cusip number is 40433URB4.

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