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HSBC plans dual directional barrier notes on Dow, Russell 2000
New York, Aug. 2 – HSBC USA Inc. plans to price 0% dual directional barrier securities due Sept. 10, 2021 linked to the lesser performing of the Dow Jones industrial average and the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.
If each index finishes at or above its initial value, the payout at maturity will be par plus at least 125% of the return of the lesser performing index. The exact upside participation rate will be set at pricing.
If the lesser performing index 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 index.
Otherwise, the notes offer full exposure to the decline of the lesser performing index.
HSBC Securities (USA) Inc. is the agent.
The notes will price on Aug. 31 and settle on Sept. 10.
The Cusip number is 40435FV87.
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