Published on 3/2/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $2.11 million market participation securities linked to Dow
By William Gullotti
Buffalo, N.Y., March 2 – HSBC USA Inc. priced $2.11 million of 0% market participation securities due May 28, 2024 tied to the performance of the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
If the return of the index is positive, the payout at maturity will be par plus the index return up to a maximum return of par plus 7%.
Otherwise, investors will receive par.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Market participation securities
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Underlying index: | Dow Jones industrial average
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Amount: | $2,114,000
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Maturity: | May 28, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the index finishes above its initial level, par plus the index return up to 7%; otherwise, par
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Initial level: | 33,153.91
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Pricing date: | Feb. 23
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Settlement date: | Feb. 28
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 1.5%
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Cusip: | 40441XH37
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