Published on 1/30/2024 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $45.05 million Accelerated Return Notes on Russell 2000
By William Gullotti
Buffalo, N.Y., Jan. 30 – HSBC Bank plc priced $45.05 million of 0% Accelerated Return Notes due March 28, 2025 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus triple any index gain, up to a maximum payout of par plus 19.03%.
Investors will be exposed to any index decline.
BofA Securities, Inc. is the agent.
Issuer: | HSBC Bank plc
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Issue: | Accelerated Return Notes
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Underlying index: | Russell 2000 index
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Amount: | $45,052,950
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Maturity: | March 28, 2025
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus triple any index gain, capped at par plus 19.03%; full exposure to any index decline
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Initial level: | 1,975.878
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Pricing date: | Jan. 25
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Settlement date: | Feb. 1
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Agent: | BofA Securities, Inc.
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Fees: | 1.75%
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Cusip: | 403954670
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