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HSBC plans five-year digital dual directional notes tied to S&P 500
By Susanna Moon
Chicago, March 2 – HSBC USA Inc. plans to price 0% digital dual directional notes due March 31, 2021 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the index finishes at or above the 80% barrier level, the payout at maturity will be par plus the greater of the index gain and the minimum upside return of 30% to 35%.
If the index falls by more than 20%, the payout will be par plus the index return with full exposure to any losses.
HSBC Securities (USA) Inc. is the underwriter.
The notes will price on March 28 and settle on March 31.
The Cusip number is 40433UHZ2.
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