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HSBC plans to price digital-plus barrier notes linked to S&P 500
By Marisa Wong
Madison, Wis., July 30 – HSBC USA Inc. plans to price 0% digital-plus barrier notes due February 2020 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the index return is zero or positive, the payout at maturity will be par plus the greater of the minimum upside return and the index return. The minimum upside return is expected to be 32% to 37% and will be set at pricing.
Investors will receive par if the index falls by up to 30% and will be fully exposed to the index decline from the initial level if it falls by more than 30%.
HSBC Securities (USA) Inc. is the agent.
The notes will price and settle in August.
The Cusip number is 40433BKS6.
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