HSBC plans six-year trigger PLUS with no cap linked to S&P 500

By Susanna Moon

Chicago, June 8 – HSBC USA Inc. plans to price 0% trigger Performance Leveraged Upside Securities due July 6, 2022 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

If the index finishes above the initial level, the payout at maturity will be par plus of $10 plus at least 156.5% of the gain, with the exact leverage factor to be set at pricing.

If the index falls but finishes at or above the 65% trigger level, the payout will be par.

Otherwise, investors will be fully exposed to any losses.

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

The notes will price on June 30 and settle on July 6.

The Cusip number is 40434V723.

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