HSBC plans dual direction trigger PLUS tied to iShares MSCI EM

By Susanna Moon

Chicago, April 26 – HSBC USA Inc. plans to price 0% dual directional trigger Performance Leveraged Upside Securities due May 5, 2020 linked to the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

If the fund finishes above its initial level, the payout at maturity will be par of $10 plus 200% of the gain up to a maximum return of 35%.

If the fund falls by up to the 80% 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. Morgan Stanley Smith Barney LLC is handling distribution.

The notes will price on April 28.

The Cusip number is 40435D839.

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