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HSBC plans digital dual directional barrier notes tied to S&P 500
By Marisa Wong
Morgantown, W.Va., Jan. 13 – HSBC USA Inc. plans to price 0% digital dual directional barrier notes due Jan. 29, 2021 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 23% to 28% and will be set at pricing.
If the index return is less than negative 20%, investors will have full exposure to the index’s decline from its initial level.
HSBC Securities (USA) Inc. is the underwriter.
The notes will price Jan. 26.
The Cusip number is 40433UFN1.
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