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HSBC to price two-year buffered AMPS linked to S&P 500
By Tali Rackner
Norfolk, Va., Sept. 23 – HSBC USA Inc. plans to price 0% buffered Accelerated Market Participation Securities due Sept. 28, 2018 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 plus double the index return, subject to a maximum return that is expected to be at least 17.5% and will be set at pricing.
Investors will receive par if the index declines by 10% or less and will lose 1% for every 1% that it declines beyond 10%.
HSBC Securities (USA) Inc. is the agent.
The notes will price on Sept. 27 and settle on Sept. 30.
The Cusip number is 40433UUQ7.
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