Published on 8/30/2016 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $2 million digital dual directional barrier notes on S&P 500
By Susanna Moon
Chicago, Aug. 30 – HSBC USA Inc. priced $2.01 million of 0% digital dual directional barrier securities due Aug. 31, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above its 75% barrier level, the payout at maturity will be par plus the greater of any gain and the 25% digital upside return.
Otherwise, investors will be fully exposed to any losses.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Digital dual directional barrier notes
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Underlying indexes: | S&P 500
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Amount: | $2,009,000
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Maturity: | Aug. 31, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index return is at least negative 25%, par plus greater of any gain and 25%; otherwise, full exposure to any losses
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Initial level: | 2,169.04
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Barrier level: | 75% of initial level
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Pricing date: | Aug. 26
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Settlement date: | Aug. 31
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 3.625%
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Cusip: | 40433USG2
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