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

By Angela McDaniels

Tacoma, Wash., Aug. 8 – HSBC USA Inc. plans to price 0% digital dual directional barrier notes due Aug. 26, 2022 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 30%, the payout at maturity will be par plus the greater of the index return and the minimum upside return, which is expected to be 30% to 35% and will be set at pricing. Otherwise, investors will lose 1% for every 1% that the final index level is less than the initial index level.

HSBC Securities (USA) Inc. is the underwriter.

The notes will price Aug. 19.

The Cusip number is 40433URY4.

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