Published on 9/8/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $989,000 market participation notes with call feature on S&P, Russell
By Kiku Steinfeld
Chicago, Sept. 8 – HSBC USA Inc. priced $989,000 of 0% market participation notes with call feature due March 3, 2025 tied to the performance of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a 6.2% premium if the lesser performing index closes above its initial level on Feb. 28, 2024.
The payout at maturity will be par plus any gain in the lesser performing index.
Otherwise, investors will receive par.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Market participation notes with call feature
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Underlying indexes: | S&P 500, Russell 2000
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Amount: | $989,000
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Maturity: | March 3, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus any gain in lesser performing index; otherwise, par
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Call: | At par plus a 6.2% premium if the lesser performing index closes at or above its initial level on Feb. 28, 2024
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Initial levels: | 3,970.15 for S&P, 1,896.991 for Russell
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Pricing date: | Feb. 28, 2023
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Settlement date: | March 3, 2023
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 0.5%
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Cusip: | 40441XJ27
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