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HSBC to price trigger performance notes linked to S&P 500 index
By Angela McDaniels
Tacoma, Wash., Dec. 30 - HSBC USA Inc. plans to price 0% trigger performance securities due Jan. 30, 2015 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par of $10 plus 103% to 111% of the index return. The exact participation rate will be set at pricing. If the index return is zero or negative and the final index level is at least 60% of the initial index level, investors will receive par. If the final index level is less than 60% of the initial index level, investors will be fully exposed to the decline from the initial level.
The notes (Cusip: 40433K694) are expected to price Jan. 26 and settle Jan. 31.
HSBC Securities (USA) Inc. is the underwriter with UBS Financial Services Inc. as dealer.
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