Published on 5/30/2017 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $1.09 million digital dual directional barrier notes linked to Russell, S&P
By Angela McDaniels
Tacoma, Wash., May 30 – HSBC USA Inc. priced $1.09 million of 0% digital dual directional barrier securities due May 31, 2022 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 its barrier level, 70% of its initial level, the payout at maturity will be par plus the greater of the lesser-performing index’s return and 35%. Otherwise, investors will lose 1% for every 1% that the final level of the lesser-performing index is less than its initial level.
HSBC Securities (USA) Inc. is the underwriter.
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: | $1,087,000
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Maturity: | May 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 barrier level, par plus greater of lesser-performing index’s return and 35%; otherwise, 1% loss for every 1% that final level of lesser-performing index is less than initial level
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Initial index levels: | 2,415.07 for S&P 500 and 1,383.388 for Russell 2000
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Barrier levels: | 1,690.549 for S&P 500 and 968.3716 for Russell 2000
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Pricing date: | May 25
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Settlement date: | May 31
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 0.75%
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Cusip: | 40433U3W4
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