HSBC to price dual directional trigger jump securities on iShares EM

By Marisa Wong

Morgantown, W.Va., Sept. 20 – HSBC USA Inc. plans to price 0% dual directional trigger jump securities due Sept. 27, 2022 linked to the iShares MSCI Emerging Markets exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.

If the fund finishes at or above the initial price, the payout at maturity will be par plus an upside payment of at least 31.5%.

If the fund falls but finishes at or above the 80% trigger price, the payout will be par plus the absolute value of the fund return.

If the fund falls by more than 20%, investors will be fully exposed to the decline.

HSBC Securities (USA) Inc. is the agent with distribution through Morgan Stanley Wealth Management.

The notes will price on Sept. 22.

The Cusip number is 40435G188.

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