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HSBC plans three-year SelectInvest notes linked to Russell 2000
By Angela McDaniels
Tacoma, Wash., Oct. 1 – HSBC USA Inc. plans to price 0% SelectInvest debt securities due Oct. 30, 2017 linked to the Russell 2000 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 index return, subject to a maximum return of at least 23%. The exact maximum return will be set at pricing. If the index declines by 15% or less, the payout will be par. If the index declines by more than 15%, investors will lose 1% for every 1% that the index return is below negative 15%.
HSBC Securities (USA) Inc. is the agent.
The notes are expected to price Oct. 23 and settle Oct. 28.
The Cusip number is 40433BPG7.
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