Published on 5/16/2018 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $5.95 million buffered digital notes tied to S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, May 16 – HSBC USA Inc. priced $5.95 million of 0% buffered digital notes due Nov. 18, 2019 linked to the Russell 2000 index and the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.
If each index finishes above its initial level, the payout at maturity will be par plus the fixed return of 13.55%.
If either index falls by up to the 20% buffer, the payout will be par.
Otherwise, investors will lose 1.25% for each 1% decline of the worse performing index beyond the buffer.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Buffered digital notes
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Underlying indexes: | Russell 2000, S&P 500
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Amount: | $5,952,000
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Maturity: | Nov. 18, 2019
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index gains, par plus 13.55%; if either index falls by up to 20%, par; otherwise, 1.25% loss for each 1% decline of worse performing index beyond 20%
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Initial values: | 2,727.72 for S&P, 1,606.792 for Russell
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Pricing date: | May 11
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Settlement date: | May 16
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 0.5%
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Cusip: | 40435FB30
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