HSBC plans to price buffered uncapped notes linked to Russell 2000

By Marisa Wong

Morgantown, W.Va., Aug. 31 – HSBC USA Inc. plans to price 0% buffered uncapped market participation securities due Sept. 30, 2020 linked to the Russell 2000 index, according to an FWP filing 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 15% or less and will lose 1% for every 1% decline beyond 15%. The exact buffer will be set at pricing and will be at least 15%.

HSBC Securities (USA) Inc. is the underwriter.

The notes will price Sept. 25 and settle Sept. 30.

The estimated initial value of the notes on the pricing date is expected to be between $900 and $950 per $1,000 principal amount.

The Cusip number is 40433B6U7.

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