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HSBC to price trigger performance securities linked to S&P 500
By Toni Weeks
San Luis Obispo, Calif., March 6 - HSBC USA Inc. plans to price 0% trigger performance securities due March 23, 2018 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 101% to 106% of the index return. The actual participation rate will be set at pricing.
Investors will receive par if the index falls by up to 50% and will be fully exposed to losses from the initial level if it falls more than 50%.
The notes (Cusip: 40433T133) are expected to price March 18 and settle March 22.
HSBC Securities (USA) Inc. is the underwriter, and UBS Financial Services Inc. is the agent.
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