HSBC plans to price digital dual directional notes linked to S&P 500

By Tali Rackner

Norfolk, Va., Feb. 5 – HSBC USA Inc. plans to price 0% digital dual directional notes due March 1, 2021 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

If the index return is greater than or equal to negative 20%, the payout at maturity will be the greater of par plus the return and the minimum upside return, which is expected to be 25% to 30% and will be set at pricing.

Otherwise, investors will be exposed to the losses.

HSBC Securities (USA) Inc. is the agent.

The notes will price on Feb. 24 and settle on Feb. 29.

The Cusip number is 40433UGT7.

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