Published on 3/10/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $6.18 million barrier digital notes on Russell, S&P
By William Gullotti
Buffalo, N.Y., March 10 – HSBC USA Inc. priced $6.18 million of 0% barrier digital notes due April 15, 2024 linked to the lesser performing of the S&P 500 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 75% trigger level, the payout at maturity will be par plus 12.35%.
Otherwise, investors will be fully exposed to the decline of the worst performer from its initial level.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Barrier digital notes
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Underlying indexes: | Russell 2000 index, S&P 500 index
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Amount: | $6,184,000
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Maturity: | April 15, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index finishes at or above trigger level, par plus 12.35%; otherwise, investors will be fully exposed to the decline of the worst performer from its initial level
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Initial levels: | 1,879.478 for Russell, 3,992.01 for S&P
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Trigger levels: | 75% of initial levels
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Pricing date: | March 8
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Settlement date: | March 13
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Fees: | None
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Cusip: | 40441XW30
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