HSBC to price digital dual directional barrier notes on S&P 500 index

By Devika Patel

Knoxville, Tenn., Sept. 28 – HSBC USA Inc. plans to price 0% digital dual directional barrier notes due Oct. 6, 2022 linked to the S&P 500 index, according to an FWP filed with the Securities and Exchange Commission.

If the index finishes at or above 80% of its initial level, the payout at maturity will be par plus the greater of any index gain and the minimum upside return of at least 18%. The exact floor will be set at pricing.

Investors will lose 1% for each 1% decline of the index from its initial level if it finishes below the 80% barrier level.

HSBC Securities (USA) Inc. is the agent.

The notes (Cusip: 40435FHP5) will price on Oct. 3 and settle on Oct. 6.

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