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HSBC to price 1.65% trigger income securities with upside on S&P 500
By Devika Patel
Knoxville, Tenn., July 15 – HSBC USA Inc. plans to price 1.65% trigger income securities with upside participation due Aug. 3, 2023 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
The fixed coupon will be paid quarterly.
At maturity the securities will pay par plus any gain in the index.
If the index declines but finishes at or above the 50% trigger level, the payout will be par. Otherwise, investors will lose 1% for each 1% loss in the index.
HSBC Securities (USA) Inc. is the agent with Morgan Stanley Wealth Management handling distribution.
The notes (Cusip: 40434V418) will price on July 29 and settle on Aug. 3.
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