Published on 2/22/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $40,000 dual directional buffered notes on Nasdaq, Russell
Chicago, Feb. 22 – HSBC USA Inc. priced $40,000 of 0% dual directional buffered notes due May 6, 2024 linked to the least performing of the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes at or above its initial level, the payout at maturity will be par plus the return of the least performing index, subject to a maximum return of 38%.
If any index falls but none finish below the 85% buffer level, the payout will be par plus the absolute value of the return of the worst performing index.
Otherwise, investors will lose 1% for each 1% decline of the worst performer beyond 15%.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Dual directional buffered notes
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Underlying indexes: | Nasdaq-100 index, Russell 2000 index
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Amount: | $40,000
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Maturity: | May 6, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index gains, par plus gain of least performing index, subject to a maximum return of 38%; if any index falls but none fall by more than 15%, par plus the absolute value of return of worst performer; otherwise, 1% loss for each 1% decline of worst performer below 15%
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Initial levels: | 12,854.80 for Nasdaq, 1,864.103 for Russell
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Buffer levels: | 85% of initial levels
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Pricing date: | April 29, 2022
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Settlement date: | May 4, 2022
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 0.5%
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Cusip: | 40439JU94
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