HSBC plans five-year digital barrier notes with 40% payment on S&P

New York, Aug. 1 – HSBC USA Inc. plans to price 0% digital barrier notes due Aug. 31, 2023 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

If the underlying index finishes at or above its initial level, the payout at maturity will be par plus the greater of the gain and the minimum upside return of at least 40%.

If the index falls but ends at or above its 60% barrier level, the payout at maturity will be par.

Otherwise, investors will be fully exposed to any losses.

HSBC Securities (USA) Inc. is the agent.

The notes will price on Aug. 24 and settle on Aug. 31.

The Cusip number is 40435FS32.

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