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HSBC plans six-year digital dual directional notes linked to S&P 500
By Susanna Moon
Chicago, March 2 – HSBC USA Inc. plans to price 0% digital dual directional notes due March 28, 2022 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the index finishes at or above the 70% barrier level, the payout at maturity will be par plus the greater of the index gain and the minimum upside return of 36% to 41%.
If the index falls by more than 30%, the payout will be par plus the index return with full exposure to any losses.
HSBC Securities (USA) Inc. is the underwriter.
The notes will price on March 18 and settle on March 28.
The Cusip number is 40433UJU1.
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