HSBC to price barrier digital return notes due 2019 on three indexes

By Sarah Lizee

Olympia, Wash., Nov. 8 – HSBC USA Inc. plans to price 0% barrier digital return notes due Dec. 30, 2019 linked to the least performing of the S&P 500 index, the Euro Stoxx 50 index and the Russell 2000 index, according to an FWP filed with the Securities and Exchange Commission.

If no index closes below the barrier level, 70% of the initial level, during the life of the notes, the payout at maturity will be par plus the digital return of at least 7%. The exact digital return will be set at pricing.

If any index ever closes below the barrier level during the life of the notes but no index finishes below its initial level, the payout at maturity will be par.

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

HSBC Securities (USA) Inc. is the agent.

The notes (Cusip: 40435UAB0) are expected to price on Nov. 27 and settle on Nov. 30.

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