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HSBC to price capped dual directional barrier notes tied to S&P 500
New York, Aug. 8 – HSBC USA Inc. plans to price 0% capped dual directional barrier notes due March 5, 2021 linked to the S&P 500 index, according to an FWP filed with the Securities and Exchange Commission.
The payout at maturity will be par plus any index gain, subject to a maximum return of 17.5% to 19.5%. The exact maximum return will be set at pricing.
If the index falls by up to 25%, the payout will be par plus the absolute value of the index return.
Otherwise, investors will lose 1% for each 1% decline of the index from its initial level.
HSBC Securities (USA) Inc. is the agent.
The notes will price on Aug. 30 and settle on Sept. 5.
The Cusip number is 40435FW78.
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