Published on 8/28/2019 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $3.47 million digital barrier securities tied to S&P, Russell
By Sarah Lizee
Olympia, Wash., Aug. 28 – HSBC USA Inc. priced $3.47 million of 0% digital barrier securities due Nov. 30, 2020 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the lesser performing index finishes at or above its 70% of its initial level, the payout at maturity will be par plus the digital upside return of 7.25%.
Otherwise, investors will be fully exposed to the decline of the lesser performing index from its initial level.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Digital barrier securities
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Underlying indexes: | S&P 500, Russell 2000
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Amount: | $3,471,000
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Maturity: | Nov. 30, 2020
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the lesser performing index finishes at or above its 70% of its initial level, par plus 7.25%; otherwise, full exposure to the decline of the lesser performing index from its initial level
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Initial levels: | 2,847.11 for S&P, 1,459.485 for Russell
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Barrier levels: | 1,992.977 for S&P, 1,021.6395 for Russell; 70% of initial levels
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Pricing date: | Aug. 23
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Settlement date: | Aug. 28
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Agent: | HSBC Securities (USA) Inc.
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Fees: | None
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Cusip: | 40435UVF8
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