Published on 4/27/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $667,000 dual directional buffered notes on Nasdaq, Russell
Chicago, April 27 – HSBC USA Inc. priced $667,000 of 0% dual directional buffered notes due May 31, 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, capped at par plus 26.1%.
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: | $667,000
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Maturity: | May 31, 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, capped at par plus 26.1%; 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: | 11,943.93 for Nasdaq, 1,799.164 for Russell
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Buffer levels: | 85% of initial levels
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Pricing date: | May 25, 2022
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Settlement date: | May 31, 2022
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 2.5%
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Cusip: | 40439J3J2
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