HSBC plans digital dual directional barrier notes linked to indexes

By Susanna Moon

Chicago, April 5 – HSBC USA Inc. plans to price 0% worst of digital dual directional barrier securities due April 27, 2018 linked to the worse performing of the S&P 500 index and the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.

If each index finishes at or above the 80% barrier level, the payout at maturity will be par plus the greater of the minimum upside return of at least 10% and any gain of the worse performing index.

Otherwise, the payout will be par plus the index return of the worse performing index with full exposure to any losses.

HSBC Securities (USA) Inc. is the underwriter.

The notes will price on April 22 and settle on April 27.

The Cusip number is 40433ULH7.

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