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HSBC reports plans to sell buffered AMPS linked to Russell, Nasdaq
By Sarah Lizee
Olympia, Wash., Sept. 24 – HSBC USA Inc. intends to price 0% buffered Accelerated Market Participation Securities due Dec. 30, 2020 linked to the Russell 2000 index and the Nasdaq-100 index, according to an FWP filed with the Securities and Exchange Commission.
If each index increases, the payout at maturity will be par plus 150% of the return of the lesser performing index, subject to a maximum return of at least 13.1%. The exact cap will be set at pricing.
If either index falls by up to 10%, the payout at maturity will be par.
Investors will lose 1% for each 1% decline of the lesser performing index beyond 10%.
HSBC Securities (USA) Inc. is the agent.
The notes (Cusip: 40435UXN9) will price on Sept. 25.
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