Published on 3/9/2020 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $7.32 million capped gears linked to S&P 500
Chicago, March 9 – HSBC USA Inc. priced $7.32 million of 0% capped gears due April 30, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is greater than zero, the payout at maturity will be par plus 3 times the index return, subject to a maximum return of 11.7%. If the index return is less than zero, investors will have full exposure to the decline.
UBS Financial Services Inc. and HSBC Securities (USA) Inc. are the agents.
Issuer: | HSBC USA Inc.
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Issue: | Capped gears
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Underlying index: | S&P 500
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Amount: | $7,324,150
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Maturity: | April 30, 2021
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 3 times any index gain, return capped at 11.7%; full exposure to any losses
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Initial level: | 3,128.21
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Pricing date: | Feb. 25
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Settlement date: | Feb. 28
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Agents: | UBS Financial Services Inc. and HSBC Securities (USA) Inc.
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Fees: | 2%
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Cusip: | 40438G409
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