Published on 4/16/2021 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $761,000 barrier capped market participation notes on Dow, Nasdaq
By Wendy Van Sickle
Columbus, Ohio, April 16 – HSBC USA Inc. priced $761,000 of 0% barrier capped market participation securities due April 6, 2023 tied to the Dow Jones industrial average and the Nasdaq-100 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 3 times the return of the lesser performing index, capped at par plus 31.65%.
Investors will receive par if either index falls by up to 20%.
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: | Dow Jones industrial average and Nasdaq-100 index
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Amount: | $761,000
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Maturity: | April 6, 2023
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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 3 times the return of the lesser performing index, capped at par plus 31.65%; par either index falls by up to 20%; otherwise, full exposure to the lesser performing index’s decline from its initial level
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Initial levels: | 32,981.557 for Dow, 13,091.44 for Nasdaq
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Barrier levels: | 80% of initial levels
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Pricing date: | March 31
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Settlement date: | April 6
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Agent: | HSBC Securities (USA) Inc.
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Fees: | None
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Cusip: | 40438C2E0
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