HSBC plans to price six-month jump securities linked to oil & gas ETF

By Toni Weeks

San Luis Obispo, Calif., Dec. 22 – HSBC USA Inc. plans to price 0% jump securities due June 29, 2015 linked to the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.

If the fund finishes at or above the initial share price, the payout at maturity will be par plus the upside payment of at least 19%, or $1.90 per $10 security, with the exact upside payment to be determined at pricing.

Investors will be fully exposed to any decline in the share price.

The notes (Cusip: 40434F678) are expected to price Dec. 23 and settle Dec. 29.

HSBC Securities (USA) Inc. is the agent. Morgan Stanley Wealth Management is the dealer.

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