HSBC plans market-linked notes with leveraged upside tied to Russell

By Susanna Moon

Chicago, May 11 – HSBC USA Inc. plans to price 0% market-linked securities – leveraged upside participation to a cap and fixed percentage buffered downside due Dec. 6, 2021 linked to the Russell 2000 index, according to an FWP filed with the Securities and Exchange Commission.

The payout at maturity will be par plus 1.3 times any index gain, up to a cap of 43% to 48%.

Investors will receive par if the index falls by up to 15% and will be exposed to any losses beyond 15%.

HSBC Securities (USA) Inc. and Wells Fargo Securities, LLC are the agents.

The notes will price on May 31 and settle on June 5.

The Cusip number is 40433U5A0.

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