Published on 6/28/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $312,000 dual directional buffered notes linked to Nasdaq, Russell
By Angela McDaniels
Tacoma, Wash., June 28 – HSBC USA Inc. priced $312,000 of 0% dual directional buffered notes due July 29, 2024 linked to the Nasdaq-100 index and the Russell 2000 index, 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 the return of that index, subject to a maximum return of 35.75%.
If the lesser performing index’s return is less than zero but greater than or equal to negative 15%, the payout will be par plus the absolute value of the lesser performing index’s return.
If the lesser performing index’s return is less than negative 15%, investors will lose 1% for every 1% that the lesser performing index declines 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 and Russell 2000 index
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Amount: | $312,000
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Maturity: | July 29, 2024
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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 return of that index, subject to maximum return of 35.75%; if lesser performing index’s return is less than zero but greater than or equal to negative 15%, par plus absolute value of lesser performing index’s return; otherwise, 1% loss for every 1% that lesser performing index declines beyond 15%
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Initial levels: | 12,086.90 for Nasdaq and 1,805.246 for Russell
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Buffer levels: | 85% of initial levels
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Pricing date: | July 26, 2022
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Settlement date: | July 29, 2022
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 2.25%
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Cusip: | 40441XDE7
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