Published on 5/4/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $251,000 dual directional buffered notes linked to Nasdaq, Russell
By Angela McDaniels
Tacoma, Wash., May 4 – HSBC USA Inc. priced $251,000 of 0% dual directional buffered notes due June 3, 2024 linked to the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the return of the lesser-performing index is greater than or equal to zero, the payout at maturity will be par plus 110% of that index’s return, subject to a maximum return of 51.5%.
If the return of the lesser-performing index is less than zero but greater than or equal to negative 10%, the payout will be par plus the absolute value of the lesser-performing index’s return.
If the return of the lesser-performing index is less than negative 10%, investors will lose 1% for every 1% that the lesser-performing index declines beyond 10%.
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: | Nasdaq-100 index and Russell 2000 index
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| Amount: | $251,000
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| Maturity: | June 3, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If lesser-performing index’s return of is greater than or equal to zero, par plus 110% of that index’s return, subject to maximum return of 51.5%; if return of lesser-performing index is less than zero but greater than or equal to negative 10%, par plus absolute value of lesser-performing index’s return; otherwise, 1% loss for every 1% that lesser-performing index declines beyond 10%
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| Initial levels: | 12,642.10 for Nasdaq and 1,864.043 for Russell
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| Buffer levels: | 90% of initial levels
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| Pricing date: | May 31, 2022
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| Settlement date: | June 3, 2022
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| Agent: | HSBC Securities (USA) Inc.
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| Fees: | 0%
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| Cusip: | 40439J3E3
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