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HSBC to price digital dual directional barrier notes on Russell, S&P
By Wendy Van Sickle
Columbus, Ohio, Dec. 20 – HSBC USA Inc. plans to price 0% digital dual directional barrier securities due Jan. 31, 2022 linked to the lesser 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 at or above 70% of its initial level, the payout at maturity will be par plus the greater of the index return and the minimum upside return, which is expected to be 35% to 40% and will be set at pricing.
Investors will lose 1% for each 1% loss of the lesser-performing index if either index finishes below the 70% barrier level.
HSBC Securities (USA) Inc. is the agent.
The notes (Cusip: 40433UG67) will price on Jan. 26 and settle on Jan. 31.
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