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HSBC plans to price three-year trigger PLUS linked to Topix index
By Sarah Lizee
Olympia, Wash., Nov. 16 – HSBC USA Inc. plans to price 0% trigger Performance Leveraged Upside Securities due May 25, 2021 linked to the Topix index, according to an FWP filing with the Securities and Exchange Commission.
If the index finishes at or above its initial level, the payout at maturity will be par plus 200% of the gain, capped at par plus 66.9%.
If the index falls but finishes at or above the 75% trigger level, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline.
HSBC Securities (USA) Inc. is the agent, with Morgan Stanley Wealth Management handling distribution.
The notes are expected to price on Nov. 20 and settle on Nov. 26.
The Cusip number is 40436A719.
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