HSBC plans five-year Leveraged Index Return Notes linked to the Dow

By Marisa Wong

Morgantown, W.Va., May 22 – HSBC USA Inc. plans to price 0% Leveraged Index Return Notes due May 2022 linked to the Dow Jones industrial average, according to an FWP filed with the Securities and Exchange Commission.

The payout at maturity will be par of $10 plus 105% to 125% of any index gain. The exact participation rate will be set at pricing.

Investors will receive par if the index falls by up to 20% and will lose 1% for every 1% decline beyond 20%.

BofA Merrill Lynch is the agent.

The notes will price in May and settle in June.

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