Published on 3/31/2020 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $473,000 buffered digital notes on S&P
By Wendy Van Sickle
Columbus, Ohio, March 31 – HSBC USA Inc. priced $473,000 of 0% buffered digital notes due March 31, 2022 tied to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above 90% of its initial level, the payout at maturity will be par plus 8.15%.
Investors will lose 1% for each 1% decline of the index beyond 10% of initial level.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Buffered digital notes
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Underlying index: | S&P 500
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Amount: | $473,000
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Maturity: | March 31, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the index gains or falls by up to 10%, par plus 8.15%; 1% loss of index for each 1% decline of the index beyond 10% of initial level
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Initial level: | 2,630.07
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Buffer level: | 90% of initial level
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Pricing date: | March 26
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Settlement date: | March 31
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 2.8%
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Cusip: | 40438CAE1
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