Published on 11/21/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $867,000 dual directional barrier notes linked to S&P, Russell
By Angela McDaniels
Tacoma, Wash., Nov. 21 – HSBC USA Inc. priced $867,000 of 0% dual directional barrier notes due Nov. 3, 2025 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the return of the lesser performing index is greater than or equal to zero, the payout at maturity will be par plus 121.5% of that index’s return.
If the return of the lesser performing index is less than zero but greater than or equal to negative 20%, the payout will be par plus the absolute value of the lesser performing index’s return.
If the return of the lesser performing index is less than negative 20%, investors will lose 1% for every 1% that the lesser performing index declines from its initial level.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Dual directional barrier notes
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Underlying indexes: | S&P 500 index and Russell 2000 index
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Amount: | $867,000
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Maturity: | Nov. 3, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If return of lesser performing index is greater than or equal to zero, par plus 121.5% of that index’s return; if return of lesser performing index is less than zero but greater than or equal to negative 20%, par plus absolute value of lesser performing index’s return; otherwise, 1% loss for every 1% that lesser performing index declines from initial level
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Initial index levels: | 3,871.98 for S&P and 1,846.863 for Russell
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Pricing date: | Oct. 31, 2022
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Settlement date: | Nov. 3, 2022
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 0%
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Cusip: | 40441XQK9
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