Published on 2/28/2019 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $1.31 million five-year barrier enhanced notes tied to Dow, Russell
By Susanna Moon
Chicago, Feb. 28 – HSBC USA Inc. priced $935,000 of 0% barrier enhanced participation notes due Feb. 28, 2024 linked to the lesser performing of the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 1.45 times any gain of the worse performing index.
Investors will receive par if either index falls by up to 50% and will be fully exposed to any losses of the worse performing index if it finishes below the 50% barrier level.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Barrier enhanced participation notes
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Underlying indexes: | Dow Jones industrial average, Russell 2000 index
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Amount: | $1,305,000
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Maturity: | Feb. 28, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each underlying index gains, par plus 1.45 times return of worse performing index; par if either index falls by up to 50%; otherwise, 1% loss per 1% decline of worst performing index
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Initial levels: | 26,091.95 for Dow, 1,588.805 for Russell
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Barrier levels: | 50% of initial levels
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Pricing date: | Feb. 25
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Settlement date: | Feb. 28
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 3.75%
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Cusip: | 40435UFS8
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