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HSBC eyes dual directional barrier notes on iShares MSCI EAFE, Stoxx
By Sarah Lizee
Olympia, Wash., Sept. 26 – HSBC USA Inc. plans to price 0% dual directional barrier securities due Oct. 3, 2022 linked to the least performing of the iShares MSCI EAFE ETF and the Euro Stoxx 50 index, according to a 424B2 filed with the Securities and Exchange Commission.
If each asset closes above its initial level, the payout will be par plus 194% of the return of the lesser-performing asset.
If any asset finishes flat or falls below its barrier level, 75% of initial level, the payout at maturity will be par plus the absolute value of the return of the lesser-performing asset.
Investors will lose 1% for each 1% loss of the lesser-performing asset from its initial level if any asset finishes below the 75% barrier level.
HSBC Securities (USA) Inc. is the underwriter.
The notes will price Sept. 30.
The Cusip number is 40435UWJ9.
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