HSBC plans digital dual direction barrier notes tied to S&P, Russell

By Susanna Moon

Chicago, June 15 – HSBC USA Inc. plans to price 0% digital dual directional barrier securities due June 30, 2022 linked to the least performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

If each index finishes at or above 70% of its initial level, the payout at maturity will be par plus the greater of any gain of the worse performing index and the upside return of 29% to 35%. The exact digital return will be set at pricing.

Otherwise, investors will lose 1% for each 1% loss of the worse performing index.

HSBC Securities (USA) Inc. is the agent.

The notes will price on June 27 and settle on June 30.

The Cusip number is 40433U5Y8.

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