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HSBC plans trigger return optimization notes linked to Russell 2000
By Jennifer Chiou
New York, Feb. 4 – HSBC USA Inc. plans to price 0% trigger return optimization securities due Feb. 28, 2018 linked to the Russell 2000 index, according to an FWP with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par of $10 plus 1.5 times the index return, subject to a maximum return that is expected to be 35% to 42% and will be set at pricing.
If the index return is zero or negative and the final index level is greater than or equal to the trigger level, 75% of the initial index level, the payout will be par. If the final index level is less than the trigger level, investors will have full exposure to the index’s decline.
The notes (Cusip: 40434F363) will price on Feb. 24 and settle on Feb. 27.
HSBC Securities (USA) Inc. is the underwriter with UBS Financial Services Inc. as agent.
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