Published on 9/7/2018 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $817,000 capped dual directional barrier notes linked to S&P 500
By Wendy Van Sickle
Columbus, Ohio, Sept. 7 – HSBC USA Inc. priced $817,000 of 0% capped dual directional barrier notes due March 5, 2021 linked to the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.
The payout at maturity will be par plus any index gain, subject to a maximum return of 18.5%.
If the index falls by up to 25%, the payout will be par plus the absolute value of the index return.
Otherwise, investors will lose 1% for each 1% decline of the index from its initial level.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Capped dual directional barrier notes
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Underlying index: | S&P 500
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Amount: | $817,000
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Maturity: | March 5, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index gains, par plus return, with gain capped at 18.5%; if index falls by up to 25%, par plus absolute value of return otherwise, 1% loss for each 1% decline
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Initial index level: | 2,901.13
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Trigger level: | 2,175.8475, 75% of initial level
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Pricing date: | Aug. 30
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Settlement date: | Sept. 5
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 2.5%
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Cusip: | 40435FW78
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