Published on 12/29/2017 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $1.69 million barrier enhanced notes tied to Dow, Russell
By Susanna Moon
Chicago, Dec. 29 – HSBC USA Inc. priced $1.69 million of 0% barrier enhanced participation notes due Dec. 27, 2022 linked to the Russell 200 index and the Dow Jones industrial average, according to a 414B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 1.35 times any gain of the worse performing index.
Investors will receive par if either index falls by up to 50% and will be fully exposed to any losses of the worse performing index if it finishes below the 50% barrier level.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Barrier enhanced participation notes
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Underlying indexes: | Dow Jones industrial average, Russell 2000 index
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Amount: | $1,694,000
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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: | Par plus 1.35 times any gain of worse performing index; par if either index falls by up to 50%; 1% loss per 1% decline of worse performing index if it finishes below barrier
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Initial levels: | 24,726.65 for Dow, 1,540.076 for Russell
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Barrier levels: | 50% 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: | 40435FNK9
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