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

By Susanna Moon

Chicago, April 3 – HSBC USA Inc. plans to price 0% digital dual directional barrier securities due April 29, 2022 linked to the least performing of the S&P 500 index and the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.

If each index finishes at or above its 70% barrier level, the payout at maturity will be par plus the greater of the return of the worse performing index and the digital upside return of 40% to 45%.

Otherwise, investors will lose 1% for each 1% decline of the worse performing index.

HSBC Securities (USA) Inc. is the agent.

The notes will price on April 25.

The Cusip number is 40433U2D7.

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