Published on 2/23/2024 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $1.04 million barrier digital notes linked to S&P 500
By Wendy Van Sickle
Columbus, Ohio, Feb. 23 – HSBC USA Inc. priced $1.04 million 0% barrier digital notes due March 21, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is at least 85% of its initial level, the payout at maturity will be par plus 9.23%.
If the index falls by more than 15%, investors will be fully exposed to the index decline.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Barrier digital notes
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Underlying index: | S&P 500
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Amount: | $1,035,000
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Maturity: | March 21, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index return is at least 85% of its initial level, par plus 9.23%; | otherwise, full exposure to index decline
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Initial level: | 5,029.73
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Pricing date: | Feb. 15
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Settlement date: | Feb. 21
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 0%
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Cusip: | 40447AZR8
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