Published on 8/13/2019 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $700,000 digital dual directional barrier notes tied to Russell, S&P
By Sarah Lizee
Olympia, Wash., Aug. 13 – HSBC USA Inc. priced $700,000 of 0% digital dual directional barrier securities due Aug. 16, 2024 linked to the lesser performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes at or above its barrier level, 70% of its initial level, the payout at maturity will be par plus the greater of the lesser-performing index’s return and 25.25%. Otherwise, investors will lose 1% for every 1% that the lesser-performing index’s final level is less than its initial level.
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: | $700,000
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Maturity: | Aug. 16, 2024
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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 barrier level, par plus greater of lesser-performing index’s return and 25.25%; otherwise, 1% loss for every 1% that lesser-performing index’s final level is less than initial level
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Initial levels: | 2,918.65 for S&P, 1,513.043 for Russell
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Barrier levels: | 2,043.055 for S&P, 1,059.1301 for Russell; 70% of initial levels
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Pricing date: | Aug. 9
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Settlement date: | Aug. 16
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Underwriter: | HSBC Securities (USA) Inc.
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Fees: | None
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Cusip: | 40435UVE1
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