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HSBC to price capped dual directional barrier notes linked to S&P 500
By Marisa Wong
Morgantown, W.Va., Oct. 19 – HSBC USA Inc. plans to price 0% capped dual directional barrier notes due Oct. 25, 2022 linked to the S&P 500 index, according to an FWP filed with the Securities and Exchange Commission.
The payout at maturity will be par plus 1.2 times any index gain, subject to a maximum return of at least 59.25%.
If the index falls by up to 30%, the payout will be par plus the absolute value of the index return.
Otherwise, investors will lose 1% for each 1% decline of the index from its initial level.
HSBC Securities (USA) Inc. is the agent.
The notes will price on Oct. 20.
The Cusip number is 40435FJR9.
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