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HSBC plans dual digital-plus barrier notes due 2019 linked to S&P 500
By Angela McDaniels
Tacoma, Wash., Aug. 4 – HSBC USA Inc. plans to price 0% dual digital-plus barrier notes due Sept. 3, 2019 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 negative 20%, the payout at maturity will be par plus the greater of the index return and the minimum upside return, which is expected to be 17% to 22% and will be set at pricing.
If the index return is less than negative 20%, investors will be fully exposed to the index’s decline from its initial level.
HSBC Securities (USA) Inc. is the agent.
The notes will price Aug. 26 and settle Aug. 31.
The Cusip number is 40433B4S4.
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