Published on 4/17/2018 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $1.42 million barrier enhanced participation notes on S&P, Russell
By Marisa Wong
Morgantown, W.Va., April 17 – HSBC USA Inc. priced $1.42 million of 0% barrier enhanced participation notes due April 5, 2021 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filed with the Securities and Exchange Commission.
The payout at maturity will be par plus 1.3 times any gain of the worse performing index.
Investors will receive par if either index falls but neither falls by more than 30% and will be fully exposed to any losses of the worse performing index if it falls by more than 30%.
HSBC Securities (USA) Inc. is the underwriter.
Issuer: | HSBC USA Inc.
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Issue: | Barrier enhanced participation notes
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Underlying indexes: | S&P 500 and Russell 2000
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Amount: | $1,424,000
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Maturity: | April 5, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.3 times any gain of the worse performing index; par if either index falls but neither falls by more than 30%; full exposure to any losses of the worse performing index if it falls by more than 30%
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Initial levels: | 2,605.00 for S&P and 1,513.031 for Russell
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Pricing date: | March 28
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Settlement date: | April 3
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Agent: | HSBC Securities (USA) Inc.
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Fees: | None
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Cusip: | 40435FWM5
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