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

By Sarah Lizee

Olympia, Wash., Nov. 7 – HSBC USA Inc. plans to price 0% digital dual directional barrier securities due Nov. 28, 2022 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 above its initial level, the payout at maturity will be par plus at least 39%.

If each index finishes at or below its initial level but at or above its 70% barrier level, the payout will be par plus 12%.

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 Nov. 20.

The Cusip number is 40435UAF1.

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