Published on 5/22/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $45,000 barrier capped market participation notes on S&P, Russell
Chicago, May 22 – HSBC USA Inc. priced $45,000 of 0% barrier capped market participation securities due July 1, 2024 tied to the least 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 return of each index is positive, the payout at maturity will be par plus two times the return of the lesser performing index, capped at par plus 29.25%.
Investors will receive par if either index falls by up to 25%.
Otherwise, investors will be fully exposed to the lesser performing index’s decline from its initial level.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
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| Issue: | Barrier capped market participation securities
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| Underlying indexes: | S&P 500 index and Russell 2000 index
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| Amount: | $45,000
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| Maturity: | July 1, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If return of each index is positive, par plus two times the return of the lesser performing index, capped at par plus 29.25%; par either index falls by up to 25%; otherwise, full exposure to the lesser performing index’s decline from its initial level
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| Initial levels: | 3,900.11 for S&P, 1,771.742 for Russell
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| Barrier levels: | 75% of initial levels
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| Pricing date: | June 27, 2022
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| Settlement date: | June 30, 2022
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| Agent: | HSBC Securities (USA) Inc.
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| Fees: | 1.775%
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| Cusip: | 40439J6T7
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