HSBC plans dual directional trigger PLUS tied to iShares MSCI EM fund

By Tali Rackner

Norfolk, Va., Sept. 8 – HSBC USA Inc. plans to price 0% dual directional trigger Performance Leveraged Upside Securities due Oct. 3, 2019, 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 above its initial level, the payout at maturity will be par of $10 plus 1.5 times the gain, up to a maximum return of 42%.

If the fund falls by up to 20%, the payout will be par plus the absolute value of the return.

If the fund drops below the 80% trigger level, 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 Sept. 30 and settle on Oct. 5.

The Cusip number is 40435B874.

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