Published on 2/2/2024 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $4.2 million barrier digital notes on Russell, S&P
By William Gullotti
Buffalo, N.Y., Feb. 2 – HSBC USA Inc. priced $4.2 million of 0% barrier digital notes due March 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 each index finishes at or above its 70% trigger level, the payout at maturity will be par plus 8.8%.
Otherwise, investors will be fully exposed to the decline of the worst performer from its initial level.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Barrier digital notes
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Underlying indexes: | Russell 2000 index, S&P 500 index
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Amount: | $4,201,000
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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: | If each index finishes at or above trigger level, par plus 8.8%; otherwise, investors will be fully exposed to the decline of the worst performer from its initial level
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Initial levels: | 1,996.236 for Russell, 4,924.97 for S&P
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Trigger levels: | 70% of initial levels
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Pricing date: | Jan. 30
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Settlement date: | Feb. 2
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 0.25%
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Cusip: | 40447AZF4
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