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HSBC plans barrier enhanced participation notes tied to S&P, Russell
New York, March 23 – HSBC USA Inc. plans to price 0% barrier enhanced participation notes due April 5, 2021 linked to the Russell 2000 index and the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If each index finishes at or above its initial level, the payout at maturity will be par plus at least 130% of the gain of the worse performing index. The exact participation rate will be set at pricing.
Investors will receive par if each index falls by no more than 30% and will be fully exposed to any losses of the worse performing index if it finishes below the 30% barrier level.
HSBC Securities (USA) Inc. is the agent.
The notes will price on March 28 and settle on April 3.
The Cusip number is 40435FWM5.
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