New Issue: HSBC prices $1 million barrier digital notes linked to Brazilian real

By Angela McDaniels

Tacoma, Wash., April 9 – HSBC USA Inc. priced $1 million of 0% barrier digital notes due April 27, 2020 linked to the performance of the Brazilian real relative to the dollar, according to a 424B2 filing with the Securities and Exchange Commission.

If the final spot rate is less than or equal to the barrier spot rate, 120% of the initial spot rate, the payout at maturity will be par plus 7.2%. Otherwise, investors will lose 1% for each 1% that the final spot rate is greater than the initial spot rate.

HSBC Securities (USA) Inc. is the underwriter.

Issuer:	HSBC USA Inc.
Issue:	Barrier digital notes
Underlying currency:	Brazilian real, measured relative to dollar
Amount:	$1 million
Maturity:	April 27, 2020
Coupon:	0%
Price:	Par
Payout at maturity:	If final spot rate is less than or equal to barrier spot rate, par plus 7.2%; otherwise, 1% loss for each 1% that final spot rate is greater than initial spot rate
Initial spot rate:	3.8622
Barrier spot rate:	4.6346, 120% of initial spot rate
Final spot rate:	Average of spot rates on five trading days ending April 22, 2020
Pricing date:	April 5
Settlement date:	April 10
Agent:	HSBC Securities (USA) Inc.
Fees:	1%
Cusip:	40435ULP7

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.