HSBC plans three-year dual directional trigger PLUS tied to S&P 500

By Susanna Moon

Chicago, May 18 – HSBC USA Inc. plans to price 0% dual directional trigger Performance Leveraged Upside Securities due June 3, 2020 linked to the S&P 500 index, according to an FWP filed with the Securities and Exchange Commission.

If the index finishes above its initial level, the payout at maturity will be par of $10 plus 200% of the gain up to a maximum return of at least 21.8%.

If the index falls by up to the 80% trigger level, the payout will be par plus the absolute value of the return.

Otherwise, investors will be fully exposed to any losses.

HSBC Securities (USA) Inc. is the agent. Morgan Stanley Smith Barney LLC is handling distribution.

The notes will price on May 31 and settle on June 5.

The Cusip number is 40435D664.

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