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HSBC to price digital dual directional barrier notes on S&P 500 index
By Devika Patel
Knoxville, Tenn., Oct. 14 – HSBC USA Inc. plans to price 0% digital dual directional barrier notes due Oct. 29, 2021 linked to the S&P 500 index, according to an FWP filed with the Securities and Exchange Commission.
If the index finishes at or above 75% of its initial level, the payout at maturity will be par plus the greater of any index gain and the 23% to 28% minimum upside return. The exact floor will be set at pricing.
Investors will lose 1% for each 1% loss if the index falls below the 75% barrier level.
HSBC Securities (USA) Inc. is the agent.
The notes (Cusip: 40433UWF9) will price on Oct. 26 and settle on Oct. 31.
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