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HSBC plans to price digital-plus barrier notes linked to S&P 500
By Toni Weeks
San Luis Obispo, Calif., June 23 – HSBC USA Inc. plans to price 0% digital-plus barrier notes due July 31, 2020 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the index return is greater than or equal to negative 20%, the payout at maturity will be par plus the greater of the index return and the minimum upside return, which is expected to be 20% to 25% and will be set at pricing. If the index return is less than negative 20%, investors will be fully exposed to the index decline from its initial level.
HSBC Securities (USA) Inc. is the agent.
The notes (Cusip: 40433B2V9) will price July 28 and settle July 31.
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