HSBC plans dual directional trigger jump notes tied to SPDR S&P Bank

By Susanna Moon

Chicago, Nov. 28 – HSBC USA Inc. plans to price 0% dual directional trigger jump securities due June 3, 2020 linked to the SPDR S&P Bank exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.

If the fund finishes above its initial level, the payout at maturity will be par plus the greater of the gain and the digital return of 17%.

If the fund falls but finishes at or above its 80% trigger level, the payout will be par plus the absolute value of the return.

Investors will receive par if the fund declines by up to the 80% trigger level.

Otherwise, investors will be fully exposed to any losses.

HSBC Securities (USA) Inc. is the agent with Morgan Stanley Wealth Management as dealer.

The notes will price on Nov. 30 and settle on Dec. 5.

The Cusip number is 40435J851.

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