HSBC to price digital dual directional barrier notes on S&P 500 index

By Marisa Wong

Morgantown, W.Va., Nov. 8 – HSBC USA Inc. plans to price 0% digital dual directional barrier notes due Nov. 30, 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 the index return and the 24% to 29% minimum upside return. The exact floor will be set at pricing.

Investors will lose 1% for each 1% decline if the index falls below the 75% barrier level.

HSBC Securities (USA) Inc. is the agent.

The notes will price on Nov. 21.

The Cusip number is 40433UYQ3.

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