HSBC plans capped trigger gears due 2021 linked to Russell 2000 index

By Sarah Lizee

Olympia, Wash., June 1 – HSBC USA Inc. plans to price 0% capped trigger gears due June 30, 2021 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 27.25% to 29.25% and will be set at pricing.

Investors will receive par if the index declines by 25% or less and will be fully exposed to any losses if the index finishes below the 75% downside threshold level.

UBS Financial Services Inc. and HSBC Securities (USA) Inc. are the agents.

The notes are expected to price on June 26 and settle on June 29.

The Cusip number is 40435X108.

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