HSBC plans buffered uncapped market participation notes on S&P 500

By Tali Rackner

Norfolk, Va., Aug. 28 – HSBC USA Inc. plans to price 0% buffered uncapped market participation securities due Sept. 30, 2019 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par of $1,000 plus any index gain.

Investors will receive par if the index falls by up to the buffer amount that will be at least 16% and will lose 1% for every 1% decline beyond the buffer.

The exact buffer and other deal terms will be set at pricing.

HSBC Securities (USA) Inc. is the underwriter.

The notes will price on Sept. 25 and settle on Sept. 30.

The Cusip number is 40433B6Q6.

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