Published on 4/3/2024 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $436,000 dual directional buffered notes linked to S&P
By Angela McDaniels
Tacoma, Wash., April 3 – HSBC USA Inc. priced $436,000 of 0% dual directional buffered notes due July 7, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is greater than or equal to zero, the payout at maturity will be par plus 300% of the index return, subject to maximum return of 21%.
If the index declines by up to 10%, the payout will be par plus the absolute value of the index return.
If the index declines by more than 10%, investors will lose 1% for every 1% that the index declines beyond 10%.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
|
Issue: | Dual directional buffered notes
|
Underlying index: | S&P 500 index
|
Amount: | $436,000
|
Maturity: | July 7, 2025
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | If index return is greater than or equal to zero, par plus 300% of index return, subject to maximum return of 21%; if index declines by up to 10%, par plus absolute value of index return; otherwise, 1% loss for every 1% that index declines beyond 10%
|
Initial level: | 4,450.38
|
Buffer level: | 90% of initial level
|
Pricing date: | June 30, 2023
|
Settlement date: | July 6, 2023
|
Agent: | HSBC Securities (USA) Inc.
|
Fees: | 0.5%
|
Cusip: | 40447ACK8
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.