Published on 11/11/2020 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $2.22 million dual directional buffered notes on Dow, Nasdaq and Russell
By Taylor Fox
New York, Nov. 11 – HSBC USA Inc. priced $2.22 million of 0% dual directional buffered notes due April 21, 2023 linked to the lesser performing of the Dow Jones industrial average, the Russell 2000 index 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 least performing index.
If any index falls but the worst performer declines by no more than the 20% buffer amount, then the payout at maturity will be par plus 50% of the absolute value of the return of the least performing index.
If the least performing index declines by more than 20%, then investors will be exposed to the losses of the worst performing index beyond the 20% buffer.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Dual directional buffered notes
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| Underlying indexes: | Dow Jones industrial average, Russell 2000 index and Nasdsaq-100 index
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| Amount: | $2,215,000
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| Maturity: | April 21, 2023
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | Par plus 1.1 times any gain of the least performing index; if any index falls but the least performer declines by no more than the buffer amount, par plus 50% of the absolute value of the return of the least performing index; if the least performing index declines by more than buffer level, exposure to losses of that index beyond the buffer
|
| Initial values: | 28,606.31 for Dow, 1,633.808 for Russell and 11,852.17 for Nasdaq
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| Buffer levels: | 80% of initial levels
|
| Pricing date: | Oct. 16
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| Settlement date: | Oct. 21
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| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 0.5%
|
| Cusip: | 40438CYN5
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