Published on 6/2/2020 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $2 million buffered coupon notes on S&P
By Sarah Lizee
Olympia, Wash., June 2 – HSBC USA Inc. priced $2 million of buffered coupon notes due June 11, 2021 linked 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 will be par plus 9.15%.
If the index finishes below 90% of its initial level, investors will lose 1.1111% for every 1% decline beyond the buffer.
JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the placement agents.
Issuer: | HSBC USA Inc.
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Issue: | Buffered coupon notes
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Underlying index: | S&P 500 index
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Amount: | $2,002,000
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Maturity: | June 11, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the index finishes at or above 90% of its initial level, par plus 9.15%; if the index finishes below 90% of its initial level, investors will lose 1.1111% for every 1% decline beyond the buffer
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Initial level: | 2,991.77
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Buffer level: | 90% of initial level
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Pricing date: | May 26
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Settlement date: | May 29
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Agents: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
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Fees: | 1%
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Cusip: | 40438CHN4
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