Published on 4/17/2024 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $2.94 million dual directional barrier notes linked to S&P, Dow
By Wendy Van Sickle
Columbus, Ohio, April 17 – HSBC USA Inc. priced $2.94 million of 0% dual directional barrier notes due April 12, 2027 linked to the lesser performing of the S&P 500 index and the Dow Jones industrial average, 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 108% of that index’s return.
If the return of the lesser performing index is less than zero but greater than or equal to negative 30%, 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 30%, investors will lose 1% for every 1% that the lesser performing index declines from its initial level.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
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| Issue: | Dual directional barrier notes
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| Underlying indexes: | S&P 500 index and Dow Jones industrial average
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| Amount: | $2,941,000
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| Maturity: | April 12, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If return of lesser performing index is greater than or equal to zero, par plus 108% of that index’s return; if return of lesser performing index is less than zero but greater than or equal to negative 30%, par plus absolute value of lesser performing index’s return; otherwise, 1% loss for every 1% that lesser performing index declines from initial level
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| Initial index levels: | 38,883.67 for Dow, 5,209.91 for S&P
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| Pricing date: | April 9
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| Settlement date: | April 12
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| Agent: | HSBC Securities (USA) Inc.
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| Fees: | 0%
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| Cusip: | 40447AV84
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