Published on 7/6/2017 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 Wendy Van Sickle
Columbus, Ohio, July 6 – HSBC USA Inc. priced $1.09 million of 0% digital dual directional barrier securities due June 30, 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 34%. 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.
|
Issue: | Digital dual directional barrier securities
|
Underlying indexes: | S&P 500 and Russell 2000
|
Amount: | $1,088,000
|
Maturity: | June 30, 2022
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | If each index finishes at or above barrier level, par plus greater of lesser-performing index’s return and 34%; otherwise, 1% loss for every 1% that final level of lesser-performing index is less than initial level
|
Initial index levels: | 2,419.38 for S&P 500 and 1,403.522 for Russell 2000
|
Barrier levels: | 1,693.566 for S&P 500 and 982.4654 for Russell 2000, 70% of initial levels
|
Pricing date: | June 27
|
Settlement date: | June 30
|
Agent: | HSBC Securities (USA) Inc.
|
Fees: | 0.25%
|
Cusip: | 40433U5X0
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.