I believe it does not clip the large sprite. Say you have a sprite sized 960x640 and your screen size is 480x320, you’d still get 960x640 as the size of the sprite.
If you’re not going to use the off-screen sprites then it’s better to import them already clipped. In my case, I still have use for the off-screen part of the sprite since I panning/moving them in and out of the screen.