Published on 6/15/2020 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $227,000 buffered digital notes on Dow Jones industrial average
By Wendy Van Sickle
Columbus, Ohio, June 15 – HSBC USA Inc. priced $227,000 of 0% buffered digital notes due June 12, 2023 linked to the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
If the final level of the index is greater than or equal to its buffer level, 85% of its initial level, the payout at maturity will be $1,120 for each $1,000 of notes. Otherwise, investors will lose 1% for every 1% that the index declines beyond 15%.
HSBC Securities (USA) Inc. is the underwriter.
Issuer: | HSBC USA Inc.
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Issue: | Buffered digital notes
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Underlying index: | Dow Jones industrial average
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Amount: | $227,000
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Maturity: | June 12, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the final index level is greater or equal to 85% of its initial level, $1,120 for each $1,000 of notes; otherwise, 1% loss for every 1% decline beyond 15%
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Initial index level: | 27,110.98
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Buffer level: | 85% of initial level
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Pricing date: | June 5
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Settlement date: | June 10
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Underwriter: | HSBC Securities (USA) Inc.
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Fees: | 2.5%
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Cusip: | 40438CJF9
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