HSBC to price digital dual directional barrier notes on S&P, Dow

By Wendy Van Sickle

Columbus, Ohio, Oct. 26 – HSBC USA Inc. plans to price 0% digital dual directional barrier securities due Nov. 10, 2021 linked to the lesser performing of the S&P 500 index and the Dow Jones Industrial Average, according to an FWP filed with the Securities and Exchange Commission.

If each index finishes at or above its initial level, the payout at maturity will be par plus 1.1 times the return of the lesser-performing index.

If the lesser-performing index falls by up to 30%, the payout will be par plus the absolute value of its return.

Investors will lose 1% for each 1% loss of the worst performing index if either index finishes below the 70% barrier level.

HSBC Securities (USA) Inc. is the agent.

The notes (Cusip: 40435FLF2) will price on Nov. 7 and settle on Nov. 10.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.