Published on 6/11/2020 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $500,000 barrier uncapped participation notes on three stocks
By Sarah Lizee
Olympia, Wash., June 11 – HSBC USA Inc. priced $500,000 of 0% barrier uncapped participation notes due June 10, 2025 linked to the least performing of the common stocks of Broadcom Inc., Applied Materials, Inc. and Lam Research Corp., according to a 424B2 filing with the Securities and Exchange Commission.
If the return of each stock is positive, the payout at maturity will be par plus 330% of the least-performing stock’s return.
If the return of the least-performing stock is less than or equal to zero but greater than or equal to negative 40%, the payout will be par.
If the return of any stock is less than negative 40%, investors will lose 1% for every 1% that the least-performing stock declines from its initial level.
HSBC Securities (USA) Inc. is the underwriter.
Issuer: | HSBC USA Inc.
|
Issue: | Barrier uncapped participation notes
|
Underlying stocks: | Broadcom Inc. (Symbol: AVGO), Applied Materials, Inc. (Symbol: AMAT) and Lam Research Corp. (Symbol: LRCX)
|
Amount: | $500,000
|
Maturity: | June 10, 2025
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | If return of each stock is positive, par plus 330% of least-performing stock’s return; if return of least-performing stock is less than or equal to zero but greater than or equal to negative 40%, par; if return of worst stock is less than negative 40%, 1% loss for every 1% that least-performing stock declines from initial level
|
Initial levels: | $308.89 for Broadcom, $58.13 for Applied and $291.84 for Lam
|
Barrier levels: | 60% of initial levels
|
Pricing date: | June 5
|
Settlement date: | June 10
|
Underwriter: | HSBC Securities (USA) Inc.
|
Fees: | 1%
|
Cusip: | 40438CLT6
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.