Published on 6/6/2017 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $3.44 million digital dual direction barrier notes tied to Russell, S&P 500
By Susanna Moon
Chicago, June 6 – HSBC USA Inc. priced $3.44 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 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 30%.
Otherwise, investors will be fully exposed to any losses of the worse performing index.
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: | $3,444,000
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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 its 70% barrier, par plus greater of 30% and any gain of worse performing index; otherwise, full exposure to any losses of worse performing index
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Initial index levels: | 2,415.07 for S&P and 1,383.388 for Russell
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Barrier levels: | 1,690.549 for S&P and 968.3716 for Russell, 70% of initial levels
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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: | 3.25%
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Cusip: | 40433U3X2
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