HSBC plans to price trigger PLUS linked to SPDR S&P Oil & Gas ETF

By Angela McDaniels

Tacoma, Wash., Dec. 1 – HSBC USA Inc. plans to price 0% trigger Performance Leveraged Upside Securities due July 3, 2019 linked to the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.

If the ETF return is positive, the payout at maturity will be par of $10 plus 300% of the ETF return, subject to a maximum payment of $12.43 per $10.00 principal amount of notes. Investors will receive par if the ETF declines by 20% or less and will be fully exposed to the ETF’s decline from its initial share price if it falls by more than 20%.

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

The notes will price Dec. 15.

The Cusip number is 40435J828.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.