Published on 5/8/2019 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $2.92 million digital dual directional barrier notes on S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, May 8 – HSBC USA Inc. priced $2.92 million of 0% digital dual directional barrier securities due May 8, 2023 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 initial level, the payout at maturity will be par plus 38%.
If either index falls, but not by more than 30%, the payout will be par plus 12%.
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 barrier securities
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Underlying indexes: | S&P 500 and Russell 2000
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Amount: | $2,922,000
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Maturity: | May 8, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index finishes at or above initial level, par plus 38%; if lesser performing index falls by up to 30%, par plus 12%; otherwise, 1% loss per 1% drop of worse performing index
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Initial levels: | 2,923.73 for S&P and 1,576.379 for Russell
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Pricing date: | May 1
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Settlement date: | May 6
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 0%
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Cusip: | 40435UJG0
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