Published on 8/14/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $440,000 dual directional buffered notes on Dow, Russell
Chicago, Aug. 14 – HSBC USA Inc. priced $440,000 of 0% dual directional buffered notes due April 30, 2025 linked to the least performing of the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index gains, the payout at maturity will be par plus 1.08 times the return of the least performing index.
If either index falls but none finish below the 90% 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 10%.
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: | Dow Jones industrial average, Russell 2000 index
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Amount: | $440,000
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Maturity: | April 30, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.08 times any gain of least performing index; if any index falls but none fall by more than 10%, par plus the absolute value of return of worst performer; otherwise, 1% loss for each 1% decline of worst performer beyond 10%
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Initial levels: | 35,520.12 for Dow, 1,980.355 for Russell
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Buffer levels: | 90% of initial levels
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Pricing date: | July 26
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Settlement date: | July 31
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 1.875%
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Cusip: | 40447AFG4
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