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HSBC to price dual directional barrier notes on S&P 500, Russell 2000
By Devika Patel
Knoxville, Tenn., Jan. 11 – HSBC USA Inc. plans to price 0% dual directional barrier notes due Jan. 22, 2019 linked to the worse performing of the S&P 500 index and the Russell 2000 index, according to an FWP filed with the Securities and Exchange Commission.
Payout at maturity will be par plus 110% of any gain by the lesser performing index, up to a maximum return of 40%.
Investors will receive par plus 0.5 times the absolute value of the lesser performing index’s return if the worst index falls by up to 40%. If either of the indexes finish below 60% of their initial levels, investors will be exposed to the decline of the least performing index.
HSBC Securities (USA) Inc. is the agent.
The notes (Cusip: 40433UGG5) will price on Jan. 15 and settle on Jan. 21.
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