HSBC aims to sell dual directional trigger PLUS linked to Apple stock

By Devika Patel

Knoxville, Tenn., April 12 – HSBC USA Inc. plans to price 0% dual directional trigger Performance Leveraged Upside Securities due May 5, 2020 linked to the common stock of Apple Inc., according to an FWP filing with the Securities and Exchange Commission.

If the final share price is greater than the initial share price, the payout at maturity will be par of $10 plus 150% of the stock return, subject to a maximum payout of at least $12.65 per PLUS. The exact cap will be set at pricing.

If the final share price is less than or equal to the initial share price but greater than or equal to the trigger share price, 80% of the initial level, the payout will be par plus the absolute value of the stock return.

If the final share price is less than the trigger share price, investors will lose 1% for each 1% decline of the stock from its initial level.

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

The notes (Cusip: 40435M573) will price on April 30 and settle on May 3.

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