Published on 12/1/2020 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $1.13 million dual directional barrier notes on Nasdaq, S&P
By Wendy Van Sickle
Columbus, Ohio, Dec. 1 – HSBC USA Inc. priced $1.13 million of 0% dual directional barrier notes due Nov. 28, 2022 linked to the least performing of 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 return of the worst performing index.
If either index falls but none finish below the 78.75% trigger 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: | S&P 500 index and Nasdaq-100 index
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Amount: | $1,131,000
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Maturity: | Nov. 28, 2022
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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 return of worst performing index; if either index falls but none falls by more than 21.25%, 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: | 3,557.59 for S&P, 11,905.94 for Nasdaq
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Trigger levels: | 78.75% of initial levels
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Pricing date: | Nov. 23
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Settlement date: | Nov. 27
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 0.5%
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Cusip: | 40438CD57
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