HSBC plans to price market plus notes linked to S&P 500

By Angela McDaniels

Tacoma, Wash., Aug. 20– HSBC USA Inc. plans to price 0% market plus notes due Aug. 26, 2020 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

A knock-out event occurs if the final index level has decreased, as compared to the initial level, by more than 25%.

If a knock-out event has not occurred, the payout at maturity will be par plus the greater of (a) zero and (b) 133.3% of the index return. Otherwise, investors will be fully exposed to the index’s decline.

HSBC Securities (USA) Inc. is the underwriter. J.P. Morgan Securities LLC is the placement agent.

The notes will price Aug. 21 and settle Aug. 26.

The Cusip number is 40433B6C7.

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