Published on 8/17/2018 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $1.96 million dual direction market plus notes on S&P, Russell
By Susanna Moon
Chicago, Aug. 17 – HSBC USA Inc. priced $1.96 million of 0% digital dual directional market plus notes due Aug. 16, 2021 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 67.55% knock-out level, the payout will be par plus the absolute value of the return of the worse performing index.
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.
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| Issue: | Digital dual directional market plus notes
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| Underlying indexes: | S&P 500 and Russell 2000
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| Amount: | $1,959,000
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| Maturity: | Aug. 16, 2021
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If index gains or falls by up to 32.45%, par plus absolute return of worse performing index; otherwise, 1% loss per 1% decline of worse performing index
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| Initial levels: | 2,833.28 for S&P and 1,686.804 for Russell
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| Knock-out buffer: | 32.45%
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| Pricing date: | Aug. 10
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| Settlement date: | Aug. 15
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| Agent: | HSBC Securities (USA) Inc.
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| Placement agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
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| Fees: | 2%
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| Cusip: | 40435FW94
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