HSBC to price barrier digital return notes linked to oil ETF, S&P 500

By Angela McDaniels

Tacoma, Wash., May 15 – HSBC USA Inc. plans to price 0% barrier digital return notes due June 1, 2022 linked to the lesser performing of the S&P 500 index and the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.

If each underlier finishes at or above its barrier level, 60% of its initial level, the payout at maturity will be par plus the digital return, which is expected to be at least 35% and will be set at pricing. Otherwise, investors will be fully exposed to the decline of the lesser-performing underlier.

HSBC Securities (USA) Inc. is the agent.

The notes will price May 26.

The Cusip number is 40433U5M4.

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