Published on 4/5/2017 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $1.31 million digital dual directional barrier notes on S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, April 5 – HSBC USA Inc. priced $1.31 million of 0% digital dual directional barrier securities due March 31, 2022 linked to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes at or above its 70% barrier level, the payout at maturity will be par plus the greater of any gain of the worse performing index and the digital upside return of 40%.
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: | $1,307,000
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Maturity: | March 31, 2022
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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 its 70% barrier level, par plus greater of 40% and any gain of worse performing index; otherwise, full exposure to any losses of worse performing index
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Initial levels: | 2,358.57 for S&P 500, 1,367.261 for Russell 2000
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Barrier levels: | 1,650.999 for S&P, 957.0827 for Russell; 70% of initial levels
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Pricing date: | March 28
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Settlement date: | March 31
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 0.25%
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Cusip: | 40433UU38
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