Published on 3/17/2017 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $2.5 million buffered digital notes tied to Russell, S&P
By Marisa Wong
Morgantown, W.Va., March 17 – HSBC USA Inc. priced $2.5 million of 0% buffered digital notes due Jan. 4, 2021 linked to the lesser performing of 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 80% of its initial level, the payout at maturity will be par plus the digital upside return of 28.5%.
Otherwise, investors will lose 1% for every 1% decline of the worse performing index beyond the 20% buffer.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Buffered digital notes
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Underlying indexes: | Russell 2000 and S&P 500
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Amount: | $2.5 million
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Maturity: | Jan. 4, 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 of worse performer is greater than or equal to negative 20%, par plus 28.5%; otherwise, 1% loss for every 1% decline of worse performer beyond 20%
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Initial index levels: | 1,365.27 for Russell, 2,372.60 for S&P
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Pricing date: | March 10
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Settlement date: | March 15
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 1.25%
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Cusip: | 40433UX84
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