Published on 2/8/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $1.94 million barrier digital notes linked to Dow, S&P
By William Gullotti
Buffalo, N.Y., Feb. 8 – HSBC USA Inc. priced $1.94 million of 0% barrier digital notes due March 8, 2024 linked to the lesser performing of the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes at or above its 70% trigger level, the payout at maturity will be par plus 9.76%.
Otherwise, investors will be fully exposed to the decline of the worst performer from its initial level.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Barrier digital notes
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Underlying indexes: | Dow Jones industrial average, S&P 500 index
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Amount: | $1,943,000
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Maturity: | March 8, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index finishes at or above trigger level, par plus 9.76%; otherwise, investors will be fully exposed to the decline of the worst performer from its initial level
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Initial levels: | 33,926.01 for Dow, 4,136.48 for S&P
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Trigger levels: | 70% of initial levels
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Pricing date: | Feb. 3
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Settlement date: | Feb. 8
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Agent: | HSBC Securities (USA) Inc.
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Fees: | None
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Cusip: | 40441XB58
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