The 1.2 A output rating is the continuous current the regulator can source at the fixed 1.5 V output. For a 1.2 A load at 1.5 V, the input current at 3.3 V nominal is about 0.6 A, so the upstream supply rail needs to budget for that plus the converter's quiescent draw.
Package and thermal: 10-MSOP with exposed pad
The 1.25 MHz switching frequency means the inductor and output capacitor can be small, but the input decoupling cap should be placed close to the VIN pin to minimise input ripple.
