Published on 3/30/2016 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $1.04 million digital dual directional notes tied to S&P 500
By Tali Rackner
Norfolk, Va., March 30 – HSBC USA Inc. priced $1.04 million of 0% digital dual directional notes due March 31, 2021 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 20%, the payout at maturity will be par plus the greater of the index return and 30%.
If the index return is less than negative 20%, 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: | $1,038,000
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Maturity: | March 31, 2021
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Coupon: | 0%
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Price: | Par of $1,000
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Payout at maturity: | If index return is greater than or equal to negative 20%, par plus greater of index return and 30%; if index return is less than negative 20%, full exposure to index’s decline from initial level
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Initial index level: | 2,037.05
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Pricing date: | March 28
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Settlement date: | March 31
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 3.75%
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Cusip: | 40433UHZ2
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