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HSBC plans to price digital-plus barrier notes linked to S&P 500
By Toni Weeks
San Diego, Nov. 2 - HSBC USA Inc. plans to price 0% digital-plus barrier notes due Nov. 29, 2016 linked to the S&P 500 index, 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 minimum upside return, which is expected to be 27% to 33% and will be set at pricing.
If the index return is less than zero but greater than or equal to negative 30%, the payout will be par.
If the index return is less than negative 30%, investors will be fully exposed to the index decline from the initial level.
The notes are expected to price Nov. 20 and settle Nov. 28.
HSBC Securities (USA) Inc. is the agent.
The Cusip number is 40432X3C3.
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