Published on 5/1/2020 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $1.29 million AMPS linked to S&P, Dow
By Sarah Lizee
Olympia, Wash., May 1 – HSBC USA Inc. priced $1.29 million of 0% Accelerated Market Participation Securities due April 30, 2024 tied to the least performing of the Dow Jones industrial average and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 1.65 times any gain of the lesser performing index.
Investors will receive par if the lesser performing index finishes flat and will lose 1% for each 1% decline of the lesser performing index.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Accelerated Market Participation Securities
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Underlying indexes: | S&P 500 index, Dow Jones industrial average
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Amount: | $1,287,000
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Maturity: | April 30, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.65 times any gain of lesser performing index; par if index finishes flat; 1% loss for each 1% decline of index
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Initial level: | 2,878.48 for S&P, 24,133.78 for Dow
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Pricing date: | April 27
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Settlement date: | April 30
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 2.75%
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Cusip: | 40438CFL0
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