Published on 10/16/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $302,000 dual directional buffered notes on EAFE ETF
Chicago, Oct. 16 – HSBC USA Inc. priced $302,000 of 0% dual directional buffered notes due Nov. 13, 2023 linked to the iShares MSCI EAFE ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF finishes at or above its initial level, the payout at maturity will be par plus the return of the ETF, capped at par plus 23.5%.
If the ETF falls but finishes at or above the 90% buffer level, the payout will be par plus the absolute value of the return of the ETF.
Otherwise, investors will lose 1% for each 1% decline of the ETF beyond 10%.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Dual directional buffered notes
|
| Underlying ETF: | iShares MSCI EAFE ETF
|
| Amount: | $302,000
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| Maturity: | Nov. 13, 2023
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the ETF gains, par plus the gain, subject to a maximum payout of par plus 23.5%; if the ETF falls by up to 10%, par plus the absolute value of ETF return; otherwise, 1% loss for each 1% decline of ETF below 10%
|
| Initial level: | $57.75
|
| Buffer level: | 90% of initial level
|
| Pricing date: | Oct. 6, 2022
|
| Settlement date: | Oct. 12, 2022
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 0%
|
| Cusip: | 40441XRM4
|
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