Published on 3/26/2019 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $7.97 million barrier enhanced participation notes on S&P, Russell
By Sarah Lizee
Olympia, Wash., March 26 – HSBC USA Inc. priced $7.97 million of 0% barrier enhanced participation notes due March 31, 2025 linked to 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 at or above its initial level, the payout at maturity will be par plus 151% of the gain of the worse performing index.
Investors will receive par if each index falls by no more than 50% and will be fully exposed to any losses of the worse performing index if it finishes below the 50% barrier level.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Barrier enhanced participation notes
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Underlying indexes: | S&P 500, Russell 2000
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Amount: | $7,968,000
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Maturity: | March 31, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.51 times any gain of the lesser performing index; par if worse performing index falls by up to 50%; 1% loss per 1% decline of worse performing index if it falls by more than 50%
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Initial index levels: | 2,800.71 for S&P, 1,505.923 for Russell
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Barrier levels: | 50% of initial levels
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Pricing date: | March 22
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Settlement date: | March 29
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 3.25%
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Cusip: | 40435UJA3
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