Published on 4/17/2018 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $671,000 digital dual directional barrier notes on S&P 500, Russell 2000
By Marisa Wong
Morgantown, W.Va., April 17 – HSBC USA Inc. priced $671,000 of 0% digital dual directional barrier securities due April 3, 2023 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filed with the Securities and Exchange Commission.
If each index finishes at or above its 70% barrier level, the payout will be par plus the greater of the return of the worse performing index and the digital upside return of 29%.
Otherwise, investors will lose 1% for each 1% decline of the worse performing index.
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: | $671,000
|
Maturity: | April 3, 2023
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | If each index finishes at or above barrier level, par plus greater of return of lesser performing index and 29%; otherwise, 1% loss per 1% drop of worse performing index
|
Initial levels: | 2,605.00 for S&P and 1,513.031 for Russell
|
Barrier levels: | 1,823.50 for S&P, 1,059.1217 for Russell; 70% of initial levels
|
Pricing date: | March 28
|
Settlement date: | April 3
|
Agent: | HSBC Securities (USA) Inc.
|
Fees: | 0.625%
|
Cusip: | 40435FUX3
|
|
© 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.