Published on 1/26/2024 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $2.51 million leveraged buffered capped notes tied to index basket
By Wendy Van Sickle
Columbus, Ohio, Jan. 26 – HSBC Bank plc priced $2.51 million of 0% leveraged buffered capped notes due Aug. 29, 2025 linked to a basket of indexes, according to a 424B2 filing 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.
The payout at maturity will be par plus 250% of any basket gain, up to a maximum settlement amount of par plus 28.15%.
Investors will receive par if the basket falls by up to 15% and will lose 1.1765% for every 1% decline beyond 15%.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC Bank plc
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Issue: | Leveraged buffered capped notes
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Underlying indexes: | 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: | $2,512,000
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Maturity: | Aug. 29, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 250% of any basket gain, subject to a maximum payout of par plus 28.15%; par if the basket falls by up to 15%; otherwise, 1.1765% loss for every 1% decline beyond 15%
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Initial index levels: | 4,465.91 for Stoxx, 2,542.07 for Topix, 7,485.73 for FTSE, 11,149.26 for Swiss Market, 7,514.942 for S&P/ASX
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Buffer level: | 85% of initial basket level
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Pricing date: | Jan. 23
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Settlement date: | Jan. 30
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Agent: | HSBC Securities (USA) Inc.
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Fees: | None
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Cusip: | 40442B5N3
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