HSBC plans digital dual directional barrier notes on real estate ETF

By Angela McDaniels

Tacoma, Wash., Oct. 22 – HSBC USA Inc. plans to price 0% digital dual directional barrier notes due May 2019 linked to the iShares U.S. Real Estate exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.

If the ETF return is greater than or equal to negative 20%, the payout at maturity will be par plus the greater of the ETF return and the minimum upside return, which is expected to be at least 17% and will be set at pricing. If the ETF return is less than negative 20%, investors will be fully exposed to the decline.

HSBC Securities (USA) Inc. is the agent.

The notes will price in October.

The Cusip number is 40433UBX3.

© 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.