Published on 6/27/2019 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $1.44 million digital dual directional barrier notes on S&P, Russell
By Sarah Lizee
Olympia, Wash., June 27 – HSBC USA Inc. priced $1.44 million of 0% digital dual directional barrier securities due June 28, 2024 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filed with the Securities and Exchange Commission.
If each index finishes at or above its 70% barrier level, the payout will be par plus the greater of the return of the worse performing index and the digital upside return of 23%.
Otherwise, investors will lose 1% for each 1% decline of the worse performing index.
HSBC Securities (USA) Inc. is the underwriter.
Issuer: | HSBC USA Inc.
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Issue: | Digital dual directional barrier securities
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Underlying indexes: | S&P 500 and Russell 2000
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Amount: | $1,435,000
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Maturity: | June 28, 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 barrier level, par plus greater of return of worse performing index and 23%; otherwise, 1% loss per 1% drop of worse performing index
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Initial levels: | 2,917.38 for S&P, 1,521.035 for Russell
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Barrier levels: | 2,042.17 for S&P, 1,064.725 for Russell; 70% of initial levels
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Pricing date: | June 25
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Settlement date: | June 28
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Underwriter: | HSBC Securities (USA) Inc.
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Fees: | 3.75%
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Cusip: | 40435UPH1
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