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HSBC to price trigger PLUS due 2020 linked to S&P 500 index
By Angela McDaniels
Tacoma, Wash., March 15 – HSBC USA Inc. plans to price 0% trigger Performance Leveraged Upside Securities due April 3, 2020 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 the initial index level, the payout at maturity will be par of $10 plus at least 138.8% of the index return. The exact leverage factor will be set at pricing. If the index declines but finishes at or above the trigger level, 75% of the initial index level, the payout will be par. If the index finishes below the trigger level, investors will lose 1% for every 1% that the index declines from its initial level.
HSBC Securities (USA) Inc. is the agent. Distribution is through Morgan Stanley Wealth Management.
The notes will price March 31.
The Cusip number is 40434N499.
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