Published on 6/23/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $507,000 barrier participation notes with call feature on S&P, Russell
Chicago, June 23 – HSBC USA Inc. priced $507,000 of 0% barrier participation notes with call feature due June 5, 2025 linked to the least performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus 12.8% if each index closes at or above its initial level on May 31, 2024.
If the notes are not called and each index finishes at or above its initial level, the payout at maturity will be par plus 200% of the return of the least performing index.
If any index falls but each index finishes at or above its 70% barrier level, the payout will be par.
Otherwise, investors will be fully exposed to the decline of the least performing index from its initial level.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Barrier participation notes with call feature
|
| Underlying indexes: | Russell 2000 index, S&P 500 index
|
| Amount: | $507,000
|
| Maturity: | June 5, 2025
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above initial level, par plus 200% of lowest performer’s return; if any index falls but each finish at or above barrier level, par; otherwise, investors will be fully exposed to the decline of the least performing index from its initial level
|
| Call: | Automatically at par plus 12.8% if each index closes at or above its initial level on May 31, 2024
|
| Initial levels: | 1,749.65 for Russell, 4,179.83 for S&P
|
| Barrier levels: | 70% of initial levels
|
| Pricing date: | May 31
|
| Settlement date: | June 5
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 0.5%
|
| Cusip: | 40441X7E4
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
