HSBC to price dual directional barrier notes tied to the Dow

By Sarah Lizee

Olympia, Wash., May 15 – HSBC USA Inc. plans to price 0% dual directional barrier securities due May 29, 2026 linked to the Dow Jones industrial average, according to an FWP filing with the Securities and Exchange Commission.

If the index finishes above its initial level, the payout at maturity will be par plus 1.25 times the index return.

If the index finishes flat or declines by up to its barrier level, 60% of its initial level, the payout at maturity will be par plus the absolute value of the index return.

Otherwise, investors will lose 1% for every 1% that the index’s final level is less than its initial level.

HSBC Securities (USA) Inc. is the underwriter.

The notes will price May 22.

The Cusip number is 40438CHH7.

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