| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers H > Headlines for HSBC USA Inc. > News item |
HSBC plans trigger absolute return step securities linked to S&P 500
New York, May 3 – HSBC USA Inc. plans to price 0% trigger absolute return step securities due May 31, 2023 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the index return is zero or positive, the payout at maturity will be par of $10 plus the greater of the step return and the index return.
The step return is expected to be 28.8% to 31.8% and will be set at pricing.
If the index declines by 25% or less, the payout will be par plus the absolute value of the index return.
If the index declines by more than 25%, investors will lose 1% for every 1% that the index declines from its initial level.
UBS Financial Services Inc. and HSBC Securities (USA) Inc. are the agents.
The notes will price on May 25 and settle on May 31.
The Cusip number is 40435M383.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.