By Wendy Van Sickle
Columbus, Ohio, Feb. 4 – HSBC USA Inc. priced $2.1 million of 0% dual directional barrier notes due Feb. 2, 2026 linked to the lesser performing of the SPDR S&P Biotech exchange-traded fund and the Industrial Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the final level of each underlying is greater than its initial level, the payout at maturity will be par plus 210% of the lesser-performing underlying’s return.
If the final level of either underlying is less than or equal to its initial level but neither underlying finishes below its trigger value, 70% of its initial level, the payout will be par plus the absolute value of the lesser-performing underlying’s return.
If either underlying finishes below its trigger value, investors will lose 1% for every 1% that the lesser-performing underlying declines from its initial level.
HSBC Securities (USA) Inc. is the underwriter.
| Issuer: | HSBC USA Inc.
|
| Issue: | Dual directional barrier securities
|
| Underlyings: | SPDR S&P Biotech ETF and Industrial Select Sector SPDR fund
|
| Amount: | $2,101,000
|
| Maturity: | Feb. 2, 2026
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final level of each underlying is greater than initial level, par plus 210% of lesser-performing underlying’s return; if final level of either underlying is less than or equal to initial level but neither underlying finishes below trigger value, par plus absolute value of lesser-performing underlying’s return; if either underlying finishes below trigger value, 1% loss for every 1% that lesser-performing underlying declines from initial level
|
| Initial levels: | $151.64 for Biotech ETF and $86.64 for Industrial Select
|
| Trigger values: | 70% of initial levels
|
| Pricing date: | Jan. 28
|
| Settlement date: | Feb. 2
|
| Underwriter: | HSBC Securities (USA) Inc.
|
| Fees: | 0.75%
|
| Cusip: | 40438CS51
|
|
|
© 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.
