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HSBC plans buffered digital notes due 2018 linked to S&P, Russell
By Wendy Van Sickle
Columbus, Ohio July 15 – HSBC USA Inc. plans to price 0% buffered digital securities due July 31, 2018 linked to the S&P 500 index and the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.
If the worse-performing index finishes at or above its initial level, the payout at maturity will be par plus the digital upside return of 19% to 21%.
If the worse-performing index falls by up to 10%, the payout will be par. If it falls by more than 10%, investors will lose 1% for each 1% loss beyond the 10% buffer.
The notes will price on July 26 and settle on July 29.
HSBC Securities (USA) LLC is the underwriter.
The Cusip number is 40433UQX7.
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