By Emma Trincal
New York, Oct. 23 – HSBC USA Inc. priced $1.2 million of 0% dual directional barrier notes due Oct. 24, 2023 linked to the lesser performing of 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 above its initial level, the payout at maturity will be par plus 1.38 times the gain of the lesser-performing index.
If either index falls but neither falls by more than 30%, the payout will be par plus the absolute value of the return of the lesser-performing index.
Otherwise, investors will lose 1% for every 1% decline of the lesser-performing underlying from its initial level.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Dual directional barrier notes
|
| Underlyings: | S&P 500 index and Russell 2000 index
|
| Amount: | $1.2 million
|
| Maturity: | Oct. 24, 2023
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each index finishes above its initial level, par plus 1.38 times the gain of the lesser-performing index; if either index falls but neither falls by more than 30%, par plus the absolute value of the return of the lesser-performing underlying; otherwise, 1% loss for every 1% decline of the lesser-performing underlying from its initial level
|
| Initial values: | 2,767.78 for S&P and 1,542.042 for Russell
|
| Pricing date: | Oct. 19
|
| Settlement date: | Oct. 24
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 3.25%
|
| Cusip: | 40435F6B8
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
