Published on 5/20/2020 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $230,000 digital plus barrier notes on three indexes
By Sarah Lizee
Olympia, Wash., May 20 – HSBC USA Inc. priced $230,000 of 0% digital plus barrier notes due May 20, 2025 linked to the least performing of the Dow Jones industrial average, the S&P 500 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes at or above its initial level, the payout at maturity will be par plus the greater of the fixed return of 48.25% and the return of the worse performing index.
If either index falls but neither finishes below the 70% knock-in level, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline of the worse performing index.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Digital plus barrier notes
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Underlying indexes: | Dow Jones industrial average, S&P 500 index and Nasdaq-100 index
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Amount: | $230,000
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Maturity: | May 20, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index gains, par plus greater of 48.25% and return of worse performing index; if either index falls but neither falls by more than 30%, par; otherwise, 1% loss for each 1% decline of worse performing index
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Initial levels: | 2,863.7 for S&P, 23,685.42 for Dow, 9,152.639 for Nasdaq
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Knock-in levels: | 70% of initial levels
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Pricing date: | May 15
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Settlement date: | May 20
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 0.625%
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Cusip: | 40438CFU0
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