Published on 12/21/2018 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $192,000 dual directional barrier notes on Stoxx, EAFE ETF
By Wendy Van Sickle
Columbus, Ohio, Dec. 21 – HSBC USA Inc. priced $192,000 of 0% dual directional barrier notes due Dec. 21, 2021 linked to the lesser performing of the iShares MSCI EAFE exchange-traded fund and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each underlying finishes above its initial level, the payout at maturity will be par plus 231% of the gain of the lesser-performing underlying.
If either underlying falls but neither falls by more than 25%, the payout will be par plus the absolute value of the return of the lesser-performing underlying.
Otherwise, investors will lose 1% for every 1% decline of the lesser-performing underlying from its initial level.
HSBC Securities (USA) Inc. is the underwriter.
Issuer: | HSBC USA Inc.
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Issue: | Dual directional barrier notes
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Underlyings: | iShares MSCI EAFE ETF and Euro Stoxx 50 index
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Amount: | $192,000
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Maturity: | Dec. 21, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each underlying finishes above its initial level, par plus 231% of the gain of the lesser-performing underlying; if either underlying falls but neither falls by more than 25%, 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
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Initial values: | $59.39 for ETF and 3,040.13 for index
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Trigger values: | $44.54 for ETF and 2,280.1 for index; 75% of initial values
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Pricing date: | Dec. 18
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Settlement date: | Dec. 21
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Agent: | HSBC Securities (USA) Inc.
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Fees: | None
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Cusip: | 40435UBS2
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