Published on 7/6/2018 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $1.13 million barrier enhanced participation notes on S&P, Russell
By Sarah Lizee
Olympia, Wash., July 6 – HSBC USA Inc. priced $1.13 million of 0% barrier enhanced participation notes due July 3, 2023 linked to 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 initial level, the payout at maturity will be par plus 156% of the gain of the worse performing index.
Investors will receive par if each index falls by no more than 40% and will be fully exposed to any losses of the worse performing index if it finishes below the 60% 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: | S&P 500, Russell 2000
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Amount: | $1,128,000
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Maturity: | July 3, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.56 times any gain of the lesser performing index; par if worse performing index falls by up to 40%; 1% loss per 1% decline of worse performing index if it falls by more than 40%
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Initial index levels: | 2,716.31 for S&P, 1,645.017 Russell
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Barrier levels: | 60% of initial levels
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Pricing date: | June 28
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Settlement date: | July 3
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 0.625%
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Cusip: | 40435FN52
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