Published on 7/5/2016 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $948,000 digital dual directional barrier notes linked to S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, July 5 – HSBC USA Inc. priced $948,000 of 0% digital dual directional barrier notes due June 25, 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 70% 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 41.5%.
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.
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Issue: | Digital dual directional barrier securities
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Underlying indexes: | S&P 500 and Russell 2000
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Amount: | $948,000
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Maturity: | June 25, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index finishes at or above 70% of initial, par plus greater of return of lesser performing index and 41.5%; otherwise, full exposure to any losses of worse performing index
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Initial levels: | 2,000.54 for S&P, 1,089.646 for Russell
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Barrier levels: | 1,400.38 for S&P, 762.752 for Russell, 70% of initial levels
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Pricing date: | June 28
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Settlement date: | June 30
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 0.25%
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Cusip: | 40433UNL6
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