HSBC plans digital barrier securities tied to S&P 500, Russell 2000

By Sarah Lizee

Olympia, Wash., Aug. 22 – HSBC USA Inc. plans to price 0% digital 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 the lesser performing index finishes at or above its initial level, the payout at maturity will be par plus the greater of the gain and the digital upside return of at least 52%.

If the lesser performing index falls but ends at or above its 65% barrier level, the payout at maturity will be par.

Otherwise, investors will be fully exposed to any losses.

HSBC Securities (USA) Inc. is the agent.

The notes will price on Aug. 24 and settle on Aug. 31.

The Cusip number is 40435FY50.

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