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HSBC plans to price digital dual directional notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., Oct. 7 – HSBC USA Inc. plans to price 0% digital dual directional notes due Oct. 30, 2020 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the index return is at least negative 20%, the payout at maturity will be par plus the greater of the index return and the minimum upside return, which is expected to be 22% to 27% and will be set at pricing.
If the index return is less than negative 20%, investors will have full exposure to the index’s decline.
HSBC Securities (USA) Inc. is the underwriter.
The notes will price Oct. 27 and settle Oct. 30.
The Cusip number is 40433UAW6.
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