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HSBC plans to price trigger jump securities due 2022 tied to S&P 500
By Wendy Van Sickle
Columbus, Ohio, Dec. 1 – HSBC USA Inc. plans to price 0% trigger jump securities due Jan. 4, 2022 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the index finishes at or above its initial level, the payout at maturity will equal par plus the greater of the return and an upside payment of at least 48.5%. The exact upside payment will be determined at pricing.
If the index finishes below its initial level but at or above its trigger level, 65% of the initial level, the payout at maturity will be par.
Investors will be fully exposed to losses if the index finishes below the trigger level.
HSBC Securities (USA) Inc. is the agent. Morgan Stanley Wealth Management is the distributor.
The notes will price on Dec. 30 and settle on Jan. 5.
The Cusip number is 40434K370.
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