Published on 11/18/2020 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $1.75 million barrier uncapped participation notes on S&P, Dow
By Taylor Fox
New York, Nov. 18 – HSBC USA Inc. priced $1.75 million of 0% barrier uncapped market participation securities due Nov. 4, 2026 linked to the least performing of the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
If the return of each index is positive, the payout at maturity will be par plus 1.5 times the least-performing index’s return.
If the return of the least-performing index is less than or equal to zero but greater than or equal to negative 30%, the payout will be par.
If the return of any index is less than negative 30%, investors will lose 1% for every 1% that the least-performing index declines from its initial level.
HSBC Securities (USA) Inc. is the underwriter.
Issuer: | HSBC USA Inc.
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Issue: | Barrier uncapped market participation securities
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Underlying indexes: | S&P 500 index, Dow Jones industrial average
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Amount: | $1,750,000
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Maturity: | Nov. 4, 2026
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If return of each index is positive, par plus 1.5 times the least-performing index’s return; if return of least-performing index is less than or equal to zero but greater than or equal to negative 30%, par; if return of worst index is less than negative 30%, 1% loss for every 1% that least-performing index declines from initial level
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Initial levels: | 3,269.96 for S&P and 26,501.6 for Dow
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Barrier levels: | 70% of initial levels
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Pricing date: | Oct. 30
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Settlement date: | Nov. 4
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Underwriter: | HSBC Securities (USA) Inc.
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Fees: | None
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Cusip: | 40438CB59
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