HSBC plans barrier enhanced participation notes on SPDR S&P 500 ETF

By Marisa Wong

Morgantown, W.Va., Nov. 7 – HSBC USA Inc. plans to price 0% barrier enhanced participation notes due Nov. 15, 2021 linked to the SPDR S&P 500 ETF trust, according to an FWP filing with the Securities and Exchange Commission.

If the ETF return is greater than zero, the payout at maturity will be par plus at least 150% of the ETF return. If the ETF finishes flat or falls by up to 35%, the payout will be par. Otherwise, investors will receive a number of shares of the ETF equal to $1,000 divided by the initial price.

HSBC Securities (USA) Inc. is the agent.

The notes will price Nov. 8.

The Cusip number is 40433UZX7.

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