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HSBC plans to price capped trigger gears linked to Russell 2000 index
By Angela McDaniels
Tacoma, Wash., April 29 – HSBC USA Inc. plans to price 0% capped trigger gears due May 31, 2019 linked to the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.
If the index return is greater than zero, the payout at maturity will be par of $10 plus 2 times the index return, subject to a maximum return that is expected to be 36% to 40% and will be set at pricing. Investors will receive par if the index declines by 25% or less and be fully exposed to the index’s decline from its initial level if it declines by more than 25%.
HSBC Securities (USA) Inc. is the underwriter with UBS Financial Services Inc. as agent.
The notes are expected to price May 25.
The Cusip number is 40434N226.
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