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HSBC plans three-year dual directional notes on Stoxx 50, EAFE fund
By Susanna Moon
Chicago, Oct. 24 – HSBC USA Inc. plans to price 0% dual directional barrier securities due Nov. 5, 2021 linked to the lesser performing of the Euro Stoxx 50 index and the iShares MSCI EAFE ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If each underlying asset finishes at or above its initial level, the payout at maturity will be par plus 2.23 times the gain of the worse performing asset.
If either asset falls by up to 25%, the payout will be par plus the absolute value of the worse performing asset.
Otherwise, investors will lose 1% for each 1% decline of the worse performing index or fund.
HSBC Securities (USA) Inc. is the agent.
The notes will price on Oct. 31.
The Cusip number is 40435F4D6.
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