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HSBC plans five-year buffered income notes linked to Russell 2000
By Marisa Wong
Madison, Wis., March 3 - HSBC USA Inc. plans to price buffered income notes due March 26, 2019 linked to the Russell 2000 index, according to an FWP with the Securities and Exchange Commission.
If the index closes above the initial level on any annual observation date, the coupon will be the performance-based coupon of at least 5%. The exact performance-based coupon will be set at pricing. Otherwise, the coupon will be the minimum rate of 2%. Interest will be payable annually.
If the index falls by up to 20%, the payout at maturity will be par.
Otherwise, investors will lose 1% for every 1% decline beyond 20%.
HSBC Securities (USA) Inc. is the agent.
The notes will price on March 21 and settle on March 26.
The Cusip number is 40432XUQ2.
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