Published on 6/28/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $748,000 barrier capped market participation notes linked to S&P, Russell
By Angela McDaniels
Tacoma, Wash., June 28 – HSBC USA Inc. priced $748,000 of 0% barrier capped market participation securities due July 29, 2024 linked to 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’s final level is greater than its initial level, the payout at maturity will be par plus 200% of the lesser performing index’s return, subject to a maximum return of 31.3%.
If the lesser performing index’s final level is less than or equal to its initial level but greater than or equal to 80% of its initial level, the payout will be par.
If the lesser performing index’s final level is less than 80% of its initial level, investors will lose 1% for every 1% that the lesser performing index declines 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: | $748,000
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| Maturity: | July 29, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If lesser performing index’s final level is greater than initial level, par plus 200% of lesser performing index’s return, subject to maximum return of 31.3%; if lesser performing index’s final level is less than or equal to initial level but greater than or equal to barrier level, par; otherwise, 1% loss for every 1% that lesser performing index declines from initial level
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| Initial levels: | 3,921.05 for S&P and 1,805.246 for Russell
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| Barrier levels: | 75% of initial levels
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| Pricing date: | July 26, 2022
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| Settlement date: | July 29, 2022
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| Agent: | HSBC Securities (USA) Inc.
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| Fees: | 1.775%
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| Cusip: | 40441XCN8
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