Published on 5/4/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $108,000 dual directional barrier notes linked to S&P, Dow
By Angela McDaniels
Tacoma, Wash., May 4 – HSBC USA Inc. priced $108,000 of 0% dual directional barrier notes due June 3, 2027 linked to the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
If the lesser-performing index’s return is greater than or equal to zero, the payout at maturity will be par plus 121.9% of the lesser-performing index’s return. If the lesser-performing index’s return is less than zero but greater than or equal to negative 25%, the payout will be par plus the absolute value of the lesser-performing index’s return. Otherwise, investors will lose 1% for every 1% that the lesser-performing index declines.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Dual directional barrier notes
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Underlying indexes: | S&P 500 index and Dow Jones industrial average
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Amount: | $108,000
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Maturity: | June 3, 2027
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If lesser-performing index’s return is greater than or equal to zero, par plus 121.9% of lesser-performing index’s return; if lesser-performing index’s return is less than zero but greater than or equal to negative 25%, par plus absolute value of lesser-performing index’s return.; otherwise, 1% loss for every 1% that lesser-performing index declines
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Initial levels: | 4,132.15 for S&P and 32,990.12 for Dow
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Barrier levels: | 75% of initial levels
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Pricing date: | May 31, 2022
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Settlement date: | June 3, 2022
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 0.75%
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Cusip: | 40439J3G8
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