Published on 3/29/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $2.19 million digital barrier notes tied to Nasdaq, Russell
By Wendy Van Sickle
Columbus, Ohio, March 29 – HSBC USA Inc. priced $2.19 million of 0% digital barrier notes due March 27, 2026 linked to the performance of the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes flat or gains, the payout at maturity will be the greater of par plus 38% and par plus the gain of the laggard index.
If the laggard index declines up to 20%, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the laggard index declines from its initial level.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Digital barrier notes
|
| Underlying indexes: | Nasdaq-100 index, Russell 2000 index
|
| Amount: | $2,193,000
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| Maturity: | March 27, 2026
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each index finishes flat or gains, the greater of par plus 38% and par plus the return of laggard index; if the laggard index declines up to 20%, par; otherwise, full exposure to decline of laggard index from initial level
|
| Initial index levels: | 12,567.15 for Nasdaq, 1,727.358 for Russell
|
| Barrier levels: | 80% of initial levels
|
| Pricing date: | March 22
|
| Settlement date: | March 27
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | None
|
| Cusip: | 40441XY95
|
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