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HSBC plans trigger jump securities due 2021 linked to S&P 500
By Toni Weeks
San Luis Obispo, Calif., Dec. 30 – HSBC USA Inc. plans to price 0% trigger jump securities due Feb. 3, 2021 linked to the S&P 500 index, according to an FWP with the Securities and Exchange Commission.
If the index finishes above its initial level, the payout at maturity will equal par plus the greater of the return and an upside payment of at least 35%. The exact upside payment will be determined at pricing.
Investors will receive par if the index falls by up to 40% and will be fully exposed to the index decline if it finishes below the 60% trigger level.
HSBC Securities (USA) Inc. is the agent. Morgan Stanley Wealth Management will handle distribution.
The notes will price Jan. 30 and settle Feb. 4.
The Cusip number is 40434F652.
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