Published on 9/7/2018 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $270,000 barrier digital return notes tied to Russell, Dow
By Wendy Van Sickle
Columbus, Ohio, Sept. 7 – HSBC USA Inc. priced $270,000 of 0% barrier digital return notes due Sept. 3, 2019 linked to the lesser performing of the Dow Jones Industrial Average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
A trigger event occurs if either index closes below its 65% barrier level at any time on any trading day during the life of the notes.
If a trigger event does not occur, the payout at maturity will be par plus 7.5%.
If a trigger event occurs but each index finishes at or above its initial level, the payout will be par.
Otherwise, investors will be fully exposed to the decline of the worse performing index.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Barrier digital return notes
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| Underlying indexes: | Russell 2000, Dow Jones Industrial Average
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| Amount: | $270,000
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| Maturity: | Sept. 3, 2019
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | If each index never closes below its barrier level at any time on any trading day during the life of the notes, par plus7.5%; if either index ever closes below its barrier level at any time on any trading day during the life of the notes but each index finishes at or above its initial level, par; otherwise, investors will be fully exposed to the decline of the worse performing index
|
| Initial levels: | 25,964.82 for Dow Jones, 1,740.753 for Russell
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| Barrier levels: | 18,175.374 for Dow Jones, 1,218.5271 for Russell; 65% of initial levels
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| Pricing date: | Aug. 31
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| Settlement date: | Sept. 6
|
| Agent: | HSBC Securities (USA) Inc.
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| Fees: | None
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| Cusip: | 40435FU88
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