Published on 7/13/2020 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $522,000 uncapped dual directional buffered notes on Dow, Nasdaq
By Kiku Steinfeld
Chicago, July 13 – HSBC USA Inc. priced $522,000 of 0% dual directional buffered notes due June 30, 2022 linked to the lesser performing of the Dow Jones industrial average and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 1.1 times any gain of the lesser performing index.
If either index falls but the lesser performer declines by no more than the 10% buffer amount, then the payout at maturity will be par plus the absolute value of the return of the lesser performing index.
If the lesser performing index declines by more than 10%, then the payout will be par less the loss of that index beyond the 10% buffer.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Dual directional buffered notes
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Underlying indexes: | Dow Jones industrial average and Nasdaq-100
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Amount: | $522,000
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Maturity: | June 30, 2022
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Coupon: | 0%
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Price: | Par of $1,000
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Payout at maturity: | Par plus 1.1 times any gain of lesser-performing index; if lesser-performing index falls by up to 10%, par plus absolute value of its return; otherwise, exposure to losses of lesser-performing index beyond 10% buffer
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Initial values: | 10,156.850 for Nasdaq, 25,812.88 for Dow
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Buffer levels: | 90% of initial levels
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Pricing date: | June 30
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Settlement date: | July 6
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 0%
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Cusip: | 40438CKS9
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