Published on 3/22/2021 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $540,000 buffered digital notes linked to Russell 2000
By Marisa Wong
Los Angeles, March 22 – HSBC USA Inc. priced $540,000 of 0% buffered digital notes due Feb. 20, 2024 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final level of the index is greater than or equal to 90% of its initial level, the payout at maturity will be par plus 15.75%. Otherwise, investors will lose 1% for every 1% that the index declines beyond 10%.
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: | Russell 2000 index
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Amount: | $540,000
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Maturity: | Feb. 20, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index finishes at or above 90% of initial level, par plus 15.75%; otherwise, 1% loss for every 1% decline beyond 10%
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Initial index level: | 2,272.891
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Pricing date: | Feb. 16
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Settlement date: | Feb. 19
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Underwriter: | HSBC Securities (USA) Inc.
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Fees: | 2.025%
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Cusip: | 40438CS93
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