Published on 7/28/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $1.08 million buffered digital notes linked to S&P, Russell, Nasdaq
By William Gullotti
Buffalo, N.Y., July 28 – HSBC USA Inc. priced $1.08 million of 0% buffered digital notes due Aug. 26, 2024 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final level of least-performing index is greater than or equal to 85% of its initial level, the payout at maturity will be par plus 11.52%.
Otherwise, investors will lose 1.1765% for every 1% that the least-performing index declines beyond 15%.
HSBC Securities (USA) Inc. is the underwriter.
Issuer: | HSBC USA Inc.
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Issue: | Buffered digital notes
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Underlying indexes: | S&P 500 index, Russell 2000 index, Nasdaq-100 index
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Amount: | $1.08 million
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Maturity: | Aug. 26, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If all indexes finish at or above 85% of initial level, par plus 11.52%; otherwise, 1.1765% loss for every 1% decline in least-performing index beyond 15%
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Initial index levels: | 4,536.34 for S&P, 1,960.255 for Russell, 15,425.67 for Nasdaq
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Buffer levels: | 85% of initial levels
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Pricing date: | July 21
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Settlement date: | July 26
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Underwriter: | HSBC Securities (USA) Inc.
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Fees: | 0.25%
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Cusip: | 40447AGC2
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