Published on 5/11/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $323,000 dual directional buffered notes on Russell 2000
By Kiku Steinfeld
Chicago, May 11 – HSBC USA Inc. priced $323,000 of 0% dual directional buffered notes due Feb. 12, 2024 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above its initial level, the payout at maturity will be par plus 110% of the return of the index, capped at par plus 21.8%.
If the index falls but finishes at or above the 90% buffer level, the payout will be par plus 50% of the absolute value of the return of the index.
Otherwise, investors will lose 1% for each 1% decline of the index beyond 10%.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
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| Issue: | Dual directional buffered notes
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| Underlying index: | Russell 2000 index
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| Amount: | $323,000
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| Maturity: | Feb. 12, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the index gains, par plus 110% of the gain, subject to a maximum payout of par plus 21.8%; if the index falls by up to 10%, par plus 50% of the absolute value of index return; otherwise, 1% loss for each 1% decline of index below 10%
|
| Initial level: | 1,753.193
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| Buffer level: | 90% of initial level
|
| Pricing date: | Jan. 5, 2023
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| Settlement date: | Jan. 10, 2023
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| Agent: | HSBC Securities (USA) Inc.
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| Fees: | None
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| Cusip: | 40441XYT1
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