HSBC plans digital dual directional barrier notes linked to S&P 500

By Susanna Moon

Chicago, July 6 – HSBC USA Inc. plans to price 0% digital dual directional barrier notes due July 29, 2022 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 70% barrier level, the payout at maturity will be par plus the greater of any gain and the digital upside return of 34% to 38%. The exact digital return will be set at pricing.

Otherwise, 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 July 22 and settle on July 29.

The Cusip number is 40433URD0.

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