Published on 12/2/2019 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $1.91 million barrier enhanced participation notes on Dow, Russell
By Wendy Van Sickle
Columbus, Ohio, Dec. 2 – HSBC USA Inc. priced $1.91 million of 0% barrier enhanced participation notes due Nov. 29, 2024 linked to the least performing of the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 120% of any gain of the lesser performing index.
Investors will receive par if the lesser-performing index falls by up to 50% and will be fully exposed to the decline of the lesser performing index if it finishes below the 50% barrier level.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Barrier enhanced participation notes
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Underlying indexes: | Dow Jones industrial average, Russell 2000
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Amount: | $1,906,000
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Maturity: | Nov. 29, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 120% of any gain of lesser performing index; par if lesser-performing index falls by up to 50%; full exposure to decline of lesser performing index if it finishes below 50% barrier level
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Initial levels: | 28,066.47 for Dow Jones, 1,621.904 for Russell
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Barrier levels: | 50% of initial levels
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Pricing date: | Nov. 25
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Settlement date: | Nov. 30
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 3.625%
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Cusip: | 40435UG65
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