HSBC plans five-year dual directional trigger jump notes on S&P 500

By Susanna Moon

Chicago, Sept. 8 – HSBC USA Inc. plans to price 0% dual directional trigger jump securities due Sept. 21, 2021 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

If the index finishes above its initial level, the payout at maturity will be par plus the greater of the gain and the digital return of 28.5%.

If the index falls but finishes at or above the 70% trigger level, the payout will be par plus the absolute value of the return.

Otherwise, investors will be fully exposed to any losses.

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

The notes will price on Sept. 16 and settle on Sept. 21.

The Cusip number is 40435B791.

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