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HSBC to price four-year buffered uncapped notes linked to S&P 500
By Jennifer Chiou
New York, Sept. 3 – HSBC USA Inc. plans to price 0% buffered uncapped market participation securities due Oct. 1, 2018 linked to the S&P 500 index, according to an FWP with the Securities and Exchange Commission.
If the index return is greater than zero, the payout at maturity will be par plus the index return.
Investors will receive par if the index declines by no more than the buffer amount and will lose 1% for every 1% that the index declines beyond the buffer amount, which is expected to be 15% and will be set at pricing.
The notes (Cusip: 40433BMM7) will price on Sept. 25 and settle on Sept. 30.
HSBC Securities (USA) Inc. is the underwriter.
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