Published on 2/21/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $1 million buffered digital notes linked to Stoxx, Russell, Nasdaq
By William Gullotti
Buffalo, N.Y., Feb. 21 – HSBC USA Inc. priced $1 million of 0% buffered digital notes due March 18, 2024 linked to the least performing of the Euro Stoxx 50 index, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final level of least-performing index is greater than or equal to 80% of its initial level, the payout at maturity will be par plus 12.5%.
Otherwise, investors will lose 1.25% for every 1% that the least-performing index declines beyond 20%.
HSBC Securities (USA) Inc. is the underwriter.
Issuer: | HSBC USA Inc.
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Issue: | Buffered digital notes
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Underlying indexes: | Euro Stoxx 50 index, Russell 2000 index, Nasdaq-100 index
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Amount: | $1 million
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Maturity: | March 18, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If all indexes finish at or above 80% of initial level, par plus 12.5%; otherwise, 1.25% loss for every 1% decline in least-performing index beyond 20%
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Initial index level: | 4,238.76 for Stoxx, 1,939.912 for Russell, 12,590.89 for Nasdaq
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Buffer level: | 80% of initial level
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Pricing date: | Feb. 14
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Settlement date: | Feb. 17
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Underwriter: | HSBC Securities (USA) Inc.
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Fees: | 0.25%
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Cusip: | 40441XP20
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