Published on 11/4/2022 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $9.65 million digital index-linked notes on Russell 2000
By William Gullotti
Buffalo, N.Y., Nov. 4 – HSBC USA Inc. priced $9.65 million of 0% digital index-linked notes due Feb. 5, 2024 tied to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above 90% of its initial level, the payout at maturity will be $1,194.50 per $1,000 principal amount of notes.
Otherwise, investors will lose 1.1111% for each 1% decline of the index beyond the 10% buffer.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Digital index-linked notes
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Underlying index: | Russell 2000 index
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Amount: | $9,645,000
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Maturity: | Feb. 5, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the index gains or falls by not more than 10%, par plus 19.45%; otherwise, 1.1111% loss for each 1% decline of the index beyond 10%
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Initial level: | 1,851.388
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Downside threshold: | 90% of initial level
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Pricing date: | Nov. 1
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Settlement date: | Nov. 8
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 0.92%
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Cusip: | 40441XSQ4
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