HSBC to price buffered return enhanced notes due 2020 tied to Apple

By Sarah Lizee

Olympia, Wash., Jan. 9 – HSBC USA Inc. plans to price 0% buffered return enhanced notes due Jan. 29, 2020 linked to the common stock of Apple Inc., according to an FWP filing with the Securities and Exchange Commission.

If the stock closes at or above its initial value, the payout at maturity will be par plus 2 times any gain with the payout capped at par plus 18.72%.

If the stock declines by up to 15%, the payout will be par. Investors will lose 1.1765% for each 1% loss beyond 15%.

The placement agents are JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC.

The notes will price on Jan. 11.

The Cusip number is 40435UEF7.

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