HSBC plans to price seven-year averaging notes linked to Dow

By Angela McDaniels

Tacoma, Wash., Aug. 2 – HSBC USA Inc. plans to price 0% averaging notes due Aug. 31, 2023 linked to the Dow Jones industrial average, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par plus the greater of the index return and the minimum return, which is expected to be 2% to 4% and will be set at pricing.

The index’s final level will be the average of its closing levels on 28 quarterly observation dates.

HSBC Securities (USA) Inc. is the agent.

The notes will price Aug. 26.

The Cusip number is 40433USB3.

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