Published on 5/28/2020 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $1.04 million PLUS with 3x leverage, cap linked to Stoxx
By Sarah Lizee
Olympia, Wash., May 28 – HSBC USA Inc. priced $1.04 million of 0% Performance Leveraged Upside Securities due Sept. 3, 2021 linked to the Euro Stoxx 50 index, according to a 424B2 filed with the Securities and Exchange Commission.
The payout at maturity will be par plus triple any index gain up to a maximum return of 18%.
Investors will be exposed to any losses.
HSBC Securities (USA) Inc. is the agent. Morgan Stanley Wealth Management is handling distribution.
Issuer: | HSBC USA Inc.
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Issue: | Performance Leveraged Upside Securities
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Underlying index: | Euro Stoxx 50
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Amount: | $1,036,000
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Maturity: | Sept. 3, 2021
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 300% of any index gain, capped at 18%; 1% loss per 1% decline
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Initial level: | 2,905.47
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Pricing date: | May 22
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Settlement date: | May 28
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Agent: | HSBC Securities (USA) Inc.
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Dealer: | Morgan Stanley Wealth Management
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Fees: | 2.25%
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Cusip: | 40438J726
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