Published on 4/27/2022 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $1.92 million barrier uncapped market participation notes on S&P, Dow
By William Gullotti
Buffalo, N.Y., April 27 – HSBC USA Inc. priced $1.92 million of 0% barrier uncapped market participation securities due April 28, 2025 tied 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 1.2035 times the return of the least-performing index
Investors will receive par if any index falls by up to 30%.
Otherwise, investors will be fully exposed to the least-performing index’s decline from its initial level.
HSBC Securities (USA) Inc. is the agent.
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: | $1,923,000
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Maturity: | April 28, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index finishes above its initial level, par plus 1.2035 times the gain of least-performing index; par if any index falls by up to 30%; otherwise, full exposure to least-performing index’s decline
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Initial levels: | 4,271.78 for S&P, 33,811.4 for Dow
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Barrier levels: | 70% of initial levels
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Pricing date: | April 22
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Settlement date: | April 27
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Agent: | HSBC Securities (USA) Inc.
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Fees: | None
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Cusip: | 40439JX59
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