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HSBC plans to price market plus notes linked to S&P 500 index
By Angela McDaniels
Tacoma, Wash., April 25 – HSBC USA Inc. plans to price 0% market plus notes due April 30, 2024 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the final index level is greater than or equal to the knock-out level, 80% of the initial index level, the payout at maturity will be par plus 140.55% of the index return, subject to a minimum payout of par. Otherwise, investors will lose 1% for every 1% that the final index level is less than the initial index level.
HSBC Securities (USA) Inc. is the underwriter. JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are acting as placement agents.
The notes will price April 26.
The Cusip number is 40435UMF8.
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