Published on 1/19/2024 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $3.65 million capped leveraged buffered index-linked notes on S&P 500
By William Gullotti
Buffalo, N.Y., Jan. 19 – HSBC Bank plc priced $3.65 million of 0% capped leveraged buffered index-linked notes due Sept. 10, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus 200% of the index gain, capped at par plus 20.44%.
Investors will receive par if the index declines by 10% or less and will lose 1.1111% for every 1% that it declines beyond 10%.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC Bank plc
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Issue: | Capped leveraged buffered index-linked notes
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Underlying index: | S&P 500 index
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Amount: | $3,652,000
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Maturity: | Sept. 10, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 200% of any index gain, capped at par plus 20.44%; par if index declines by 10% or less; 1.1111% loss for every 1% that index declines beyond 10%
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Initial level: | 4,783.83
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Buffer level: | 90% of initial level
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Pricing date: | Jan. 12
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Settlement date: | Jan. 22
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Agent: | HSBC Securities (USA) Inc.
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Fees: | None
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Cusip: | 40442B4X2
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