HSBC to price dual directional trigger jump notes linked to S&P 500

By Tali Rackner

Norfolk, Va., March 23 – HSBC USA Inc. plans to price 0% dual directional trigger jump securities due April 5, 2022 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

If the final index level is greater than or equal to the initial index level, the payout at maturity will be par of $10 plus the greater of the index return and 28.5%.

If the final index level is less than the initial index level but greater than or equal to the trigger level, the payout will be par plus the absolute value of the index return. The trigger level will be 70% of the initial index level.

If the final index level is less than the trigger level, investors will be exposed to the decline from the initial index level.

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

The notes will price on March 31 and settle on April 5.

The Cusip number is 40435H822.

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