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HSBC plans performance barrier notes linked to S&P 500
By Susanna Moon
Chicago, Oct. 30 - HSBC USA Inc. plans to price 0% performance barrier notes due Nov. 5, 2018 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus at least 140% of any index gain, with the exact participation rate to be set at pricing.
Investors will receive par if the index falls by up to 30% and will be fully exposed to any losses if the index finishes below the 70% trigger level.
HSBC Securities (USA) Inc. is the underwriter.
The notes will price on Oct. 31 and settle on Nov. 5.
The Cusip number is 40432XNJ6.
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