HSBC to price barrier enhanced participation notes on Dow, Russell

By Sarah Lizee

Olympia, Wash., Nov. 8 – HSBC USA Inc. plans to price 0% barrier enhanced participation notes due Nov. 30, 2023 linked to the lesser performing of the Dow Jones Industrial Average and the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par plus at least 1.35 times any gain of the worse performing index. The exact upside participation rate will be set at pricing.

Investors will receive par if either index falls by up to 50% and will be fully exposed to any losses of the worse performing index if it finishes below the 50% barrier level.

HSBC Securities (USA) Inc. is the agent.

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

The Cusip number is 40435F7J0.

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