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HSBC plans limited loss notes linked to Hang Seng China Enterprises
By Angela McDaniels
Tacoma, Wash., March 14 – HSBC USA Inc. plans to price zero-coupon 2% limited loss notes due March 28, 2022 linked to the Hang Seng China Enterprises index, according to an FWP filing with the Securities and Exchange Commission.
If the index return is greater than zero, the payout at maturity will be par plus the lesser of the index return and the cap, which is expected to be at least 25% and will be set at pricing.
If the index return is less than or equal to zero, investors will be exposed to the index’s decline, subject to a minimum payout of $980 per $1,000 principal amount of notes.
HSBC Securities (USA) Inc. is the agent.
The notes are expected to price March 21.
The Cusip number is 40435UJQ8.
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