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HSBC plans two-year capped trigger step notes linked to Russell 2000
By Susanna Moon
Chicago, July 11 – HSBC USA Inc. plans to price 0% capped trigger step securities due July 31, 2018 linked to the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.
If the index finishes above the 80% step barrier level, the payout at maturity will be par plus the greater of the 8% step return and the index return, up to a maximum gain of 23% to 26%. The exact cap will be set at pricing.
If the index falls by more than 20%, investors will be fully exposed to any losses.
UBS Financial Services Inc. and HSBC Securities (USA) Inc. are the agents.
The notes will price on July 26 and settle on July 29.
The Cusip number is 40434V483.
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