HSBC plans trigger gears linked to basket of Euro Stoxx, MSCI EM

By Marisa Wong

Morgantown, W.Va., Nov. 22 – HSBC USA Inc. plans to price 0% trigger gears due Feb. 28, 2023 linked to an equally weighted basket of indexes, according to an FWP filing with the Securities and Exchange Commission.

The basket is comprised of the Euro Stoxx 50 index and the MSCI Emerging Markets index.

If the basket return is greater than zero, the payout at maturity will be par of $10 plus 1.73 to 1.78 times the basket return. The exact upside gearing will be set at pricing. Investors will receive par if the basket declines by 30% or less and be fully exposed to the basket’s decline from its initial level if it declines by more than 30%.

UBS Financial Services Inc. and HSBC Securities (USA) Inc. are the agents.

The notes will price on Nov. 27.

The Cusip number is 40435J307.

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