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HSBC will price trigger PLUS notes linked to linked to S&P 500
By Wendy Van Sickle
Columbus, Ohio, Oct. 27 – HSBC USA Inc. plans to price 0% Trigger Performance Leveraged Upside Securities due Nov. 3, 2022 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par plus at least 113.6% of any gain, with the exact participation rate to be set at pricing.
Investors will receive par if the index falls by up to 40% and will lose 1% for each 1% decline of the index from its initial level if the index drops below the 60% trigger level.
HSBC Securities (USA) Inc. is the agent, with Morgan Stanley Wealth Management handling distribution.
The notes (Cusip: 40435H319) will price Oct. 30 and settle Nov. 2.
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