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

By Devika Patel

Knoxville, Tenn., July 6 – HSBC USA Inc. plans to price 0% dual directional barrier notes due July 18, 2023 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 initial level, the payout at maturity will be par plus the digital amount of 42%.

If the index finishes below the initial level but at or above the barrier level, 70% of the initial level, the payout at maturity will be par plus the absolute value of the index return.

If the index finishes below the barrier level, investors will lose 1% for each 1% decline of the index from its initial level.

HSBC Securities (USA) Inc. is the agent.

The notes (Cusip: 40435FN94) will price on July 13 and settle on July 18.

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