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HSBC to price one-year SelectInvest notes linked to Russell 2000
By Jennifer Chiou
New York, Oct. 30 – HSBC USA Inc. plans to price 0% SelectInvest debt securities due Nov. 24, 2015 linked to the Russell 2000 index, according to an FWP 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 10%. The exact maximum return will be set at pricing.
If the index declines by 10% or less, the payout will be par. If the index declines by more than 10%, investors will lose 1% for every 1% that the index return is below negative 10%.
The notes (Cusip: 40433BSB5) will price on Nov. 19 and settle on Nov. 24.
HSBC Securities (USA) Inc. is the agent.
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