Published on 6/25/2020 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $594,000 digital barrier securities tied to S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, June 25 – HSBC USA Inc. priced $594,000 of 0% digital barrier securities due Dec. 27, 2021 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the lesser performing index finishes at or above its 80% of its initial level, the payout at maturity will be par plus the digital upside return of 16%.
Otherwise, investors will be fully exposed to the decline of the lesser performing index from its initial level.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Digital barrier securities
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Underlying indexes: | S&P 500, Russell 2000
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Amount: | $594,000
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Maturity: | Dec. 27, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the lesser performing index finishes at or above its 80% of its initial level, par plus 16%; otherwise, full exposure to the decline of the lesser performing index from its initial level
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Initial levels: | 3,097.74 for S&P, 1,418.634 for Russell
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Barrier levels: | 80% of initial levels
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Pricing date: | June 19
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Settlement date: | June 24
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 0%
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Cusip: | 40438CLM1
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