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HSBC plans to price trigger jump securities linked to S&P 500 index
By Toni Weeks
San Luis Obispo, Calif., Nov. 6 - HSBC USA Inc. plans to price 0% trigger jump securities due Nov. 14, 2018 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the final index level is greater than the initial level, the payout at maturity will be par of $10 plus the greater of the 31.5% upside payment and the index return.
Investors will receive par if the index falls by up to 35% and will be fully exposed to losses from the initial level if the index finishes below the 65% trigger level.
The notes (Cusip: 40434B792) are expected to price Nov. 8 and settle Nov. 14.
HSBC Securities (USA) Inc. will be the agent with Morgan Stanley Wealth Management as dealer.
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