HSBC to price dual directional buffered notes linked to Dow, Nasdaq

By Angela McDaniels

Tacoma, Wash., Nov. 18 – HSBC USA Inc. plans to price 0% dual directional buffered notes due June 1, 2021 linked to the lesser performing of the Dow Jones industrial average and the Nasdaq-100 index, according to an FWP filing with the Securities and Exchange Commission.

If the final level of the lesser-performing index is greater than its initial level, the payout at maturity will be par plus the lesser-performing index’s return, subject to a maximum return that is expected to be at least 20% and will be set at pricing.

If the final level of the lesser-performing index is less than or equal to its initial level but greater than or equal to its buffer value, 90% of its initial level, the payout will be par plus the absolute value of the lesser-performing index’s return.

If the final level of the lesser-performing index is less than its buffer value, investors will lose 1% for every 1% that the lesser-performing index declines beyond 10%.

HSBC Securities (USA) Inc. is the agent.

The notes are expected to price Nov. 25.

The Cusip number is 40435UK52.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.