Published on 3/26/2020 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $1 million dual directional buffered notes on three indexes
By Sarah Lizee
Olympia, Wash., March 26 – HSBC USA Inc. priced $1 million of 0% dual directional buffered notes due March 20, 2023 linked to the lesser performing of the Russell 2000 index, the Dow Jones industrial average and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 1.2 times any gain of the least performing index.
If any index falls but the least performer declines by no more than the 20% buffer amount, then the payout at maturity will be par plus the absolute value of the return of the least performing index.
If the least performing index declines by more than 20%, then the payout will be par less the loss of that index beyond the 20% buffer.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Dual directional buffered notes
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Underlying indexes: | Russell 2000 index, Dow Jones industrial average and Nasdaq-100 index
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Amount: | $1 million
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Maturity: | March 20, 2023
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Coupon: | 0%
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Price: | Par of $1,000
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Payout at maturity: | Par plus 1.2 times any gain of the least performing index; if any index falls but the least performer declines by no more than the 20% buffer amount, par plus the absolute value of the return of the least performing index; if the least performing index declines by more than 20%, par less the loss of that index beyond the 20% buffer
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Initial values: | 21,237.38 for Dow, 1,106.506 for Russell and 7,473.95 for Nasdaq
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Buffer levels: | 80% of initial levels
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Pricing date: | March 17
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Settlement date: | March 20
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 1%
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Cusip: | 40438CBZ3
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