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HSBC plans to price dual directional barrier notes on index, ETF
By Sarah Lizee
Olympia, Wash., Aug. 16 – HSBC USA Inc. plans to price 0% dual directional barrier notes due Sept. 6, 2022 linked to the lesser performing of the iShares MSCI EAFE ETF and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each asset closes at or above its initial level, the payout at maturity will be par plus 1.94 times the return of the least performing asset.
If the least performing asset falls by up to 25%, the payout will be par plus the absolute value of the return of the least performing asset.
Otherwise, investors will be fully exposed to the decline of the worse performing asset.
HSBC Securities (USA) Inc. is the agent.
The notes will price on Aug. 30.
The Cusip number is 40435UTV6.
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