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HSBC plans digital dual directional barrier notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., May 3 – HSBC USA Inc. plans to price 0% digital dual directional barrier notes due May 28, 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 25%, the payout at maturity will be par plus the greater of the index return and the minimum upside return, which is expected to be 25% to 30% and will be set at pricing. If the index return is less than negative 25%, investors will be fully exposed to the decline from the initial level.
HSBC Securities (USA) Inc. is the underwriter.
The notes will price May 25.
The Cusip number is 40433ULU8.
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