HSBC plans buffered uncapped securities linked to Russell 2000

By Marisa Wong

Madison, Wis., Feb. 4 – HSBC USA Inc. plans to price 0% buffered uncapped market participation securities due Feb. 25, 2020 linked to the Russell 2000 index, according to an FWP with the Securities and Exchange Commission.

The payout at maturity will be par plus any index gain.

Investors will receive par if the index falls by up to 12% and will lose 1% for every 1% decline beyond 12%. The exact buffer will be set at pricing.

HSBC Securities (USA) Inc. is the agent.

The notes are expected to price on Feb. 20 and settle on Feb. 25.

The Cusip number is 40433BYT9.

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