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HSBC to price buffered digital notes linked to Russell 2000, S&P 500
By Angela McDaniels
Tacoma, Wash., Aug. 1 – HSBC USA Inc. plans to price 0% buffered digital notes due Aug. 31, 2018 linked to the lesser performing of the Russell 2000 index and the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the return of each index is greater than or equal to zero, the payout at maturity will be par plus the digital upside return, which is expected to be 19% to 21% and will be set at pricing.
If the return of the lesser-performing index is less than zero but greater than or equal to negative 10%, the payout will be par.
If the return of either index is less than negative 10%, investors will lose 1% for every 1% that the lesser-performing index declines beyond 10%.
HSBC Securities (USA) LLC is the underwriter.
The notes will price Aug. 26.
The Cusip number is 40433USP2.
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