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HSBC plans five-year SelectInvest notes linked to index, ETF basket
By Angela McDaniels
Tacoma, Wash., Jan. 7 - HSBC USA Inc. plans to price 0% SelectInvest debt securities due Jan. 25, 2019 linked to a basket of indexes and exchange-traded funds, according to an FWP filing with the Securities and Exchange Commission.
The basket consists of the S&P 500 index with a 40% weight, the Russell 2000 index with a 20% weight, the iShares MSCI MXEA exchange-traded fund with a 30% weight and the iShares MSCI Emerging Markets exchange-traded fund with a 10% weight.
If the basket return is greater than zero, the payout at maturity will be par plus the basket return, subject to a maximum return that is expected to be at least 41% and will be set at pricing. If the basket declines by 25% or less, the payout will be par. If the basket declines by more than 25%, investors will lose 1% for every 1% that the basket return is below negative 25%.
HSBC Securities (USA) Inc. is the agent.
The notes will price Jan. 27 and settle Jan. 30.
The Cusip number is 40432XQ95.
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