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HSBC plans trigger performance securities linked to Russell 2000
By Jennifer Chiou
New York, March 6 – HSBC USA Inc. plans to price 0% trigger performance securities due March 31, 2021 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 130% to 145% of the index return.
If the index return is zero or negative and the final level is greater than or equal to the trigger level, 75% of the initial level, the payout will be par.
If the final level is less than the trigger level, investors will be fully exposed to the decline in the index from its initial level.
The notes (Cusip: 40434F124) are expected to price on March 26 and settle on March 31.
UBS Financial Services Inc. and HSBC Securities (USA) Inc. are the agents.
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