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HSBC plans digital dual directional barrier notes tied to S&P, Russell
Chicago, Feb. 27 – HSBC USA Inc. plans to price 0% digital dual directional barrier notes due March 5, 2024 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’s return is greater than or equal to negative 30%, the payout at maturity will be par plus the greater of the lesser-performing index’s return and the digital return, which is expected to be between 30% and 35% and will be set at pricing. Otherwise, investors will lose 1% for every 1% that the lesser-performing index’s final level is less than its initial level.
HSBC Securities (USA) Inc. is the underwriter.
The notes will price Feb. 28 and settle March 5.
The Cusip number is 40435UFA7.
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