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HSBC plans to price digital-plus barrier notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., Aug. 30 - HSBC USA Inc. plans to price 0% digital-plus barrier notes due Sept. 27, 2018 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus the greater of the index return and the minimum upside return if the final index level is greater than or equal to the initial index level. The minimum upside return is expected to be 31% to 34% and will be set at pricing.
If the final index level is more than 70% of the initial index level but less than the initial level, the payout will be par. Investors will be fully exposed to the index's decline from the initial level if the final index level is 70% or less of the initial level.
HSBC Securities (USA) Inc. is the underwriter.
The notes are expected to price Sept. 20 and settle Sept. 27.
The Cusip number is 40432XL33.
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