Published on 3/11/2020 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $1.43 million buffered uncapped market participation securities on S&P 500
By Sarah Lizee
Olympia, Wash., March 11 – HSBC USA Inc. priced $1.43 million of 0% buffered uncapped market participation securities due March 6, 2023 tied 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 the index return. Investors will receive par if the index falls by up to 10% and will lose 1% for every 1% decline in the index beyond 10%.
HSBC Securities (USA) Inc. is the underwriter.
Issuer: | HSBC USA Inc.
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Issue: | Buffered uncapped market participation securities
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Underlying index: | S&P 500
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Amount: | $1,432,000
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Maturity: | March 6, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index return is positive, par plus the index return; par if index falls by up to buffer; 1% loss for every 1% decline in index beyond buffer
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Initial index level: | 2,954.22
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Buffer level: | 90% of initial level
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Pricing date: | Feb. 28
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Settlement date: | March 4
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 0.5%
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Cusip: | 40435U4S0
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