Published on 6/5/2017 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $1.92 million buffered digital notes tied to Russell 2000
By Marisa Wong
Morgantown, W.Va., June 5 – HSBC USA Inc. priced $1.92 million of 0% buffered digital notes due Nov. 30, 2020 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above 80% of its initial level, the payout at maturity will be par plus the digital upside return of 16.5%.
Otherwise, investors will lose 1% for every 1% decline of the 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 index: | Russell 2000
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Amount: | $1,918,000
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Maturity: | Nov. 30, 2020
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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 is greater than or equal to negative 20%, par plus 16.5%; otherwise, 1% loss for every 1% index decline
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Initial level: | 1,383.388
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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: | 3%
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Cusip: | 40433U3Y0
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