Published on 6/13/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $872,000 barrier digital notes on Russell, Dow, S&P
By Kiku Steinfeld
Chicago, June 13 – HSBC USA Inc. priced $872,000 of 0% barrier digital notes due April 30, 2024 linked to the least performing of the S&P 500 index, the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes at or above its 65% trigger level, the payout at maturity will be par plus 10%.
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, Dow Jones industrial average, S&P 500 index
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Amount: | $872,000
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Maturity: | April 30, 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 10%; otherwise, investors will be fully exposed to the decline of the worst performer from its initial level
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Initial levels: | 33,949.41 for Dow, 1,903.064 for Russell, 4,060.43 for S&P
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Trigger levels: | 65% of initial levels
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Pricing date: | Jan. 26, 2023
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Settlement date: | Jan. 31, 2023
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 1.5%
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Cusip: | 40441XA59
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