HSBC plans dual directional barrier notes on S&P 500, Russell 2000

By Marisa Wong

Morgantown, W.Va., Feb. 23 – HSBC USA Inc. plans to price 0% dual directional barrier notes due March 7, 2018 linked to the worse performing of the S&P 500 index and the Russell 2000 index, according to an FWP filed with the Securities and Exchange Commission.

If each index finishes above its initial level, the payout at maturity will be par plus the gain of the worse performing index.

If either index falls but by no more than 29%, the payout will be par plus the absolute value of the return of the worse performing index.

Otherwise, investors will be fully exposed to any losses of the worse performing index.

HSBC Securities (USA) Inc. is the agent.

The notes will price on March 2 and settle on March 7.

The Cusip number is 40433UJT4.

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