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HSBC plans to price five-year buffered digital notes linked to the Dow
By Marisa Wong
Morgantown, W.Va., July 12 – HSBC USA Inc. plans to price 0% buffered digital notes due July 30, 2021 linked to the Dow Jones industrial average, according to an FWP filing with the Securities and Exchange Commission.
If the index return is greater than or equal to zero, the payout at maturity will be par plus the greater of the index return and the digital upside return, which is expected to be 25% to 30% and will be determined at pricing.
If the index return is less than zero but greater than or equal to negative 20%, the payout will be par.
If the index return is less than negative 20%, investors will lose 1% for every 1% that the index declines beyond 20%.
HSBC Securities (USA) LLC is the underwriter.
The notes will price July 26.
The Cusip number is 40433UQW9.
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