Published on 3/22/2016 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $513,000 digital dual directional notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., March 22 – HSBC USA Inc. priced $513,000 of 0% digital dual directional notes due March 28, 2022 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 negative 30%, the payout at maturity will be par plus the greater of the index return and 36%. If the index return is less than negative 30%, investors will be fully exposed to the decline from the initial level.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Digital dual directional notes
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Underlying index: | S&P 500
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Amount: | $513,000
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Maturity: | March 28, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index return is greater than or equal to negative 30%, par plus greater of index return and 36%; if index return is less than negative 30%, full exposure to index’s decline from initial level
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Initial index level: | 2,049.58
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Pricing date: | March 18
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Settlement date: | March 28
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 3.25%
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Cusip: | 40433UJU1
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