Published on 6/19/2020 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $859,000 dual directional barrier notes on three indexes
By Wendy Van Sickle
Columbus, Ohio, June 19 – HSBC USA Inc. priced $859,000 of 0% dual directional barrier notes due June 19, 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 1.2 times the return of the worst performing index.
If either index falls but neither finishes below the 70% knock-in level, the payout will be par plus the absolute value of the return of the worst performing index.
Otherwise, investors will lose 1% for each 1% decline of the worst performing index.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Dual directional 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: | $859,000
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Maturity: | June 19, 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 1.2 times gain of worst performing index; if either index falls but neither falls by more than 30%, par plus absolute value of return of worst performing index; otherwise, 1% loss for each 1% decline of worst performing index
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Initial levels: | 3,124.74 for S&P, 26,289.98 for Dow and 9,949.366 for Nasdaq
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Knock-in levels: | 70% of initial levels
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Pricing date: | June 16
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Settlement date: | June 19
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 3.75%
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Cusip: | 40438CKF7
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