Published on 3/14/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $500,000 buffered market participation notes on Russell, Dow
By Kiku Steinfeld
Chicago, March 14 – HSBC USA Inc. priced $500,000 of 0% buffered Market Participation Securities due June 3, 2024 tied to the lesser performing of the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus any gain of the laggard index, capped at par plus 25%.
Investors will receive par if the laggard index falls by up to 25% and will lose 1% for each 1% decline of the laggard index beyond 25%.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Buffered Market Participation Securities
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Underlying indexes: | Russell 2000 index, Dow Jones industrial average
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Amount: | $500,000
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Maturity: | June 3, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus any gain in the laggard index up to par plus 25%; par if laggard index falls by up to 25%; otherwise, 1% loss for each 1% decline of laggard index beyond 25%
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Initial values: | 1,836.551 for Russell, 33,852.53 for Dow
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Buffer level: | 75% of initial value
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Pricing date: | Nov. 29, 2022
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Settlement date: | Dec. 2, 2022
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 2%
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Cusip: | 40441XVQ0
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