Published on 7/8/2019 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $1.16 million dual directional barrier notes on iShares MSCI EAFE, Stoxx
By Wendy Van Sickle
Columbus, Ohio, July 8 – HSBC USA Inc. priced $1.16 million of 0% dual directional barrier securities due July 5, 2022 linked to the iShares MSCI EAFE ETF and the Euro Stoxx 50 index, according to a 424B2 filed with the Securities and Exchange Commission.
If each asset finishes at or above its initial level, the payout will be par plus 205% of the return of the worse performing asset.
If the lesser performing asset falls by up to 25%, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline of the worse performing asset.
HSBC Securities (USA) Inc. is the underwriter.
Issuer: | HSBC USA Inc.
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Issue: | Dual directional barrier securities
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Underlying assets: | iShares MSCI EAFE ETF and Euro Stoxx 50 index
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Amount: | $1,156,000
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Maturity: | July 5, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each asset finishes at or above initial level, par plus 205% of return of worse performing asset; if lesser performing asset falls by up to 25%, par; otherwise, 1% loss per 1% drop of worse performing asset
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Initial levels: | $65.73 for MSCI EAFE, 3,473.69 for Stoxx
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Trigger levels: | $49.2975 for MSCI EAFE, 2,605.2675 for Stoxx; 75% of initial levels
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Pricing date: | June 28
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Settlement date: | July 3
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Underwriter: | HSBC Securities (USA) Inc.
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Fees: | 0.5%
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Cusip: | 40435UPM0
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