Published on 8/15/2018 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $447,000 digital dual directional barrier notes on index, fund
By Wendy Van Sickle
Columbus, Ohio, Aug. 15 – HSBC USA Inc. priced $447,000 of 0% digital dual directional barrier securities due Aug. 3, 2021 linked to the Euro Stoxx 50 index and the iShares MSCI EAFE ETF, according to a 424B2 filed with the Securities and Exchange Commission.
If each asset finishes at or above its initial level, the payout at maturity will be par plus 2 times the return of the lesser performing asset.
If either asset falls by up to 25%, the payout will be par plus the absolute value of the return of the lesser performing asset.
Otherwise, investors will lose 1% for each 1% decline of the worse performing asset.
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 assets: | Euro Stoxx 50 index and iShares MSCI EAFE ETF
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Amount: | $447,000
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Maturity: | Aug. 3, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each asset finishes at or above initial level, par plus 2 times return of worse performing asset; if either asset falls by up to 25%, par plus absolute value of lesser performing-asset return; otherwise, 1% loss per 1% drop of worse performing asset
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Initial levels: | 3,525.49 for index and $68.88 for ETF
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Barrier levels: | 2,644.1175 for index and $51.66 for ETF, 75% of initial levels
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Pricing date: | July 31
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Settlement date: | Aug. 3
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 0.5%
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Cusip: | 40435FP68
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