HSBC plans five-year trigger gears linked to S&P 500 via UBS

By Susanna Moon

Chicago, Sept. 7 – HSBC USA Inc. plans to price 0% trigger gears due Sept. 29, 2023 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 of $10 plus 1.23 to 1.33 times any index gain, with the exact upside gearing to be set at pricing.

If the index falls by up to the 75% downside threshold, the payout will be par.

Otherwise, investors will be fully exposed to any losses.

UBS Financial Services Inc. and HSBC Securities (USA) Inc. are the agents.

The notes will price on Sept. 25 and settle on Sept. 28.

The Cusip number is 40435X314.

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