Published on 12/27/2017 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $1.29 million digital dual directional barrier notes on S&P, Russell
By Marisa Wong
Morgantown, W.Va., Dec. 27 – HSBC USA Inc. priced $1.29 million of 0% digital dual directional barrier securities due Dec. 27, 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 23%. 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: | $1,286,000
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Maturity: | Dec. 27, 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 23%; 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: | 2,679.25 for S&P and 1,540.076 for Russell
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Barrier levels: | 1,875.48 for S&P and 1,078.053 for Russell, 70% of initial levels
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Pricing date: | Dec. 20
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Settlement date: | Dec. 26
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 3.75%
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Cusip: | 40435FMQ7
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