HSBC plans digital dual directional barrier notes on indexes, fund

By Sarah Lizee

Olympia, Wash., Oct. 19 – HSBC USA Inc. plans to price 0% digital dual directional barrier securities due Oct. 30, 2023 linked to the lesser performing of the S&P 500 index, the Russell 2000 index and the Invesco QQQ Trust, Series 1, according to an FWP filing with the Securities and Exchange Commission.

If each asset finishes at or above its 70% barrier level, the payout at maturity will be par plus the greater of the return of the worse performing asset and the digital upside return of at least 36%. The exact digital upside return will be set at pricing.

Otherwise, investors will lose 1% for each 1% decline of the worse performing asset.

HSBC Securities (USA) Inc. is the agent.

The notes will price on Oct. 24 and settle on Oct. 29.

The Cusip number is 40435F6C6.

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