Published on 11/23/2016 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $372,000 digital dual directional barrier notes on S&P 500
By Devika Patel
Knoxville, Tenn., Nov. 23 – HSBC USA Inc. priced $372,000 of 0% digital dual directional barrier securities due Nov. 30, 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 minimum upside return of 24%.
Otherwise, investors will lose 1% for each 1% decline.
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 index: | S&P 500
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Amount: | $372,000
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Maturity: | Nov. 30, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index finishes at or above barrier level, par plus greater of 24% and index return; otherwise, 1% loss for each 1% decline
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Initial level: | 2,198.18
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Barrier level: | 75% of initial level
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Pricing date: | Nov. 21
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Settlement date: | Nov. 25
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 3.125%
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Cusip: | 40433UYQ3
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