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HSBC plans to price digital-plus barrier notes linked to S&P 500
By Toni Weeks
San Luis Obispo, Calif., June 26 – HSBC USA Inc. plans to price 0% digital-plus barrier notes due Jan. 27, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is zero or positive, the payout at maturity will be par plus the greater of the minimum upside return and the index return. The minimum upside return is expected to be 32% to 37% and will be set at pricing.
Investors will receive par if the index falls by up to 30% and will be fully exposed to the index decline from the initial level if it falls by more than 30%.
The notes (Cusip: 40433BER5) are expected to price July 18 and settle July 25.
HSBC Securities (USA) Inc. is the agent.
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