Published on 6/23/2022 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $107,000 barrier uncapped market participation notes on S&P, Dow
By William Gullotti
Buffalo, N.Y., June 23 – HSBC USA Inc. priced $107,000 of 0% barrier uncapped market participation securities due Dec. 21, 2026 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 the return of the least-performing index.
Investors will receive par if any index falls by up to 25%.
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: | $107,000
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Maturity: | Dec. 21, 2026
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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 the gain of least-performing index; par if any index falls by up to 25%; otherwise, full exposure to least-performing index’s decline
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Initial levels: | 4,668.67 for S&P, 35,897.64 for Dow
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Barrier levels: | 75% of initial levels
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Pricing date: | Dec. 16, 2021
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Settlement date: | Dec. 21, 2021
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 3.75%
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Cusip: | 40439JUC7
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