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HSBC plans five-year digital dual direction barrier notes on indexes
By Susanna Moon
Chicago, May 10 – HSBC USA Inc. plans to price 0% digital dual directional barrier securities due June 5, 2023 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes at or above its 70% barrier level, the payout at maturity will be par plus the greater of the return of the worse performing index and the digital upside return of 30% to 35%.
Otherwise, investors will lose 1% for each 1% decline of the worse performing index.
HSBC Securities (USA) Inc. is the agent.
The notes will price on May 31 and settle on June 5.
The Cusip number is 40435FYV3.
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