Published on 9/15/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $9.52 million leveraged buffered capped basket-linked notes on indexes
Chicago, Sept. 15 – HSBC Bank plc priced $9.52 million of leveraged buffered capped basket-linked notes due Oct. 16, 2024, according to a 424B2 filed with the Securities and Exchange Commission.
The basket consists of the Euro Stoxx 50 index with a 36% weight, the Topix index with a 26% weight, the FTSE 100 index with a 17% weight, the Swiss Market index with a 12% weight and the S&P/ASX 200 index with an 9% weight.
If the basket return is positive, the payout at maturity will be par plus two times the basket return, subject to a maximum payout of par plus 18.82%.
Investors will receive par if the basket falls by up to 10% and will lose 1.1111% for every 1% decline beyond 10%.
HSBC Securities (USA) LLC is the distributor.
Issuer: | HSBC Bank plc
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Issue: | Leveraged buffered capped basket-linked notes
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Basket components: | Euro Stoxx 50 (36% weight), Topix (26% weight), FTSE 100 (17% weight), Swiss Market (12% weight) and S&P/ASX 200 (9% weight)
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Amount: | $9,515,000
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Maturity: | Oct. 16, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the index return is positive, par plus 200% of the basket return, capped at 18.82%; par if the basket falls by up to 10%; 1.1111% loss for every 1% decline beyond 10%
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Initial levels: | 4,254.33 for Euro Stoxx, 2,360.48 for Topix, 7,496.87 for FTSE, 10,972.21 for Swiss Market, 7,192.315 for S&P/ASX
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Buffer level: | 90% of initial level
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Pricing date: | Sept. 11
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Settlement date: | Sept. 18
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Agent: | HSBC Securities (USA) LLC
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Fees: | 1.09%
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Cusip: | 40442B3P0
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