HSBC plans digital dual directional barrier notes tied to Russell, S&P

By Angela McDaniels

Tacoma, Wash., Jan. 15 – HSBC USA Inc. plans to price 0% digital dual directional barrier notes due March 7, 2023 linked to the lesser performing of the Russell 2000 index and the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

If the lesser-performing index’s return is greater than zero, the payout at maturity will be par plus the upside digital return, which is expected to be at least 38.5% and will be set at pricing.

If the lesser-performing index’s return is less than or equal to zero but greater than or equal to negative 30%, the payout will be par plus 12%.

If the lesser-performing index’s return is less than negative 30%, investors will lose 1% for every 1% that the lesser-performing index declines from its initial level.

HSBC Securities (USA) Inc. is the underwriter.

The notes will price March 4.

The Cusip number is 40435UEJ9.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.