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

By Marisa Wong

Morgantown, W.Va., Feb. 21 – HSBC USA Inc. plans to price 0% digital dual directional barrier securities due Feb. 28, 2023 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

If each index finishes at or above its barrier level, 70% of its initial level, the payout at maturity will be par plus the greater of the lesser-performing index’s return and the digital upside return of 23% to 28%. Otherwise, investors will lose 1% for every 1% that the final level of the lesser-performing index is less than its initial level.

HSBC Securities (USA) Inc. is the underwriter.

The notes will price Feb. 23.

The Cusip number is 40435FSJ7.

© 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.