Published on 4/17/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $310,000 dual directional buffered notes on S&P, Russell
By Kiku Steinfeld
Chicago, April 17 – HSBC USA Inc. priced $310,000 of 0% dual directional buffered notes due June 24, 2024 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 1.056 times any gain of the least performing index.
If the least performing index falls but finishes at or above the 90% buffer level, the payout will be par plus the absolute value of the return of that index.
Otherwise, investors will lose 1% for each 1% decline of the least performing index beyond 10%.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Dual directional buffered notes
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| Underlying indexes: | S&P 500 index, Russell 2000 index
|
| Amount: | $310,000
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| Maturity: | June 24, 2024
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | If the least performing index gains, par plus 1.056 times its return; if least performing index falls by up to 10%, par plus the absolute value of that index’s return; otherwise, 1% loss for each 1% decline of least performing index beyond 10%
|
| Initial levels: | 3,821.62 for S&P, 1,748.017 for Russell
|
| Buffer levels: | 90% of initial levels
|
| Pricing date: | Dec. 20
|
| Settlement date: | Dec. 23
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | None
|
| Cusip: | 40441XWT3
|
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