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HSBC USA reports plans to price PLUS due 2021 tied to Topix index
By Sarah Lizee
Olympia, Wash., Jan. 15 – HSBC USA Inc. plans to price 0% Performance Leveraged Upside Securities due May 5, 2021 linked to the Topix index, according to a 424B3 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus triple any gain in the index, capped at par plus 21%. The exact cap will be set at pricing.
Investors will lose 1% for each 1% decline of the index from its initial level.
HSBC Securities (USA) Inc. is the agent. Morgan Stanley Wealth Management is handling distribution.
The notes (Cusip: 40438B210) will price on Jan. 31.
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