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HSBC plans digital dual directional barrier notes on S&P, Russell
New York, July 27 – HSBC USA Inc. plans to price 0% digital dual directional barrier securities due Aug. 31, 2023 linked to the lesser 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 25% to 30%. The exact digital upside return will be set at pricing.
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 Aug. 28 and settle on Aug. 31.
The Cusip number is 40435FS65.
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