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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.
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