Published on 6/17/2019 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $1.54 million two-year buffered digital notes on S&P 500
By Marisa Wong
Morgantown, W.Va., June 17 – HSBC USA Inc. priced $1.54 million of 0% buffered digital due June 1, 2021 tied to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above 90% of its initial level, the payout at maturity will be par plus 9.15%.
Otherwise, investors will lose 1% for each 1% decline beyond 10%.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Buffered digital notes
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Underlying index: | S&P 500
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Amount: | $1,542,000
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Maturity: | June 1, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the index gains or falls by up to 10%, par plus 9.15%; otherwise, 1% loss for each 1% decline beyond 10%
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Initial level: | 2,802.39
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Pricing date: | May 28
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Settlement date: | May 31
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 2.8%
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Cusip: | 40435UMN1
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