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HSBC to price 23- to 26-month digital notes linked to S&P 500 index
By Sarah Lizee
Olympia, Wash., Aug. 16 – HSBC USA Inc. plans to price 0% digital notes due in 23 to 26 months linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the index finishes at or above 80% of its initial level, the payout at maturity will be the threshold settlement amount of $1,084.20 to $1,099 for each $1,000 face amount. The exact threshold settlement amount will be set at pricing.
If the index falls by more than 20%, investors will lose 1.25% for each 1% decline beyond 20%.
HSBC Securities (USA) Inc. is the agent.
The Cusip number is 40435FR74.
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