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HSBC plans dual directional barrier notes on EAFE ETF, Stoxx index
New York, July 30 – HSBC USA Inc. plans to price 0% dual directional barrier securities due Sept. 7, 2021 linked to the lesser performing of the iShares MSCI EAFE exchange-traded fund and the Euro Stoxx 50 index, according to an FWP filing with the Securities and Exchange Commission.
If each underlier finishes at or above its initial value, the payout at maturity will be par plus at least 220% of the return of the lesser performing underlier. The exact upside participation rate will be set at pricing.
If the lesser performing underlier declines but finishes at or above its trigger value, 75% of its initial value, the payout will be par plus the absolute return of the lesser performing underlier.
Otherwise, the notes offer full exposure to the decline of the lesser performing underlier.
HSBC Securities (USA) Inc. is the agent.
The notes will price on Aug. 31 and settle on Sept. 6.
The Cusip number is 40435FT23.
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