Published on 7/5/2016 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $1.37 million digital dual directional barrier notes on indexes
By Wendy Van Sickle
Columbus, Ohio, July 5 – HSBC USA Inc. priced $1.37 million of 0% digital dual directional barrier notes due July 1, 2021 linked to 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 90% of its initial level, the payout at maturity will be par plus the greater of the return of the lesser performing index and the digital return of 53%.
If the lesser performing index finishes below 90% of initial level, but above the 60% barrier level, the payout will be par. Otherwise, investors will be fully exposed to any losses of the worse performing index.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
|
Issue: | Digital dual directional barrier securities
|
Underlying indexes: | S&P 500 and Russell 2000
|
Amount: | $1,365,000
|
Maturity: | July 1, 2021
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | If each index finishes at or above the 90% of initial, par plus greater of return of lesser performing index and 53%; par if lesser performing index finished below 90% of initial level, but above 60% barrier level; otherwise, full exposure to any losses of worse performing index
|
Initial levels: | 1,107.298 for Russell 2000, 2,036.09 for S&P 500
|
Barrier levels: | 60% of initial levels
|
Pricing date: | June 28
|
Settlement date: | June 30
|
Agent: | HSBC Securities (USA) Inc.
|
Fees: | 0.25%
|
Cusip: | 40433UPR1
|
|
© 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.