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HSBC plans digital dual directional barrier notes tied to Russell, S&P
By Sarah Lizee
Olympia, Wash., Aug. 16 – HSBC USA Inc. plans to price 0% digital dual directional barrier securities due Aug. 30, 2024 linked to the lesser performing of the Russell 2000 index and the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If each index finishes at or above its barrier level, 70% of its initial level, the payout at maturity will be par plus the greater of the lesser-performing index’s return and the digital upside return, which is expected to be 15% to 20% 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 Aug. 30.
The Cusip number is 40435UTU8.
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