Published on 6/18/2020 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $2.67 million capped trigger gears tied to Russell 2000
By Wendy Van Sickle
Columbus, Ohio, June 18 – HSBC USA Inc. priced $2.67 million of 0% capped trigger gears due June 15, 2023 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus double any index gain, up to a maximum return of 30.25%.
If the index falls by up to 25%, the payout will be par.
Otherwise, investors will be fully exposed to any losses.
UBS Financial Services Inc. and HSBC Securities (USA) Inc. are the agents.
Issuer: | HSBC USA Inc.
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Issue: | Capped trigger gears
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Underlying index: | Russell 2000 index
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Amount: | $2,665,200
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Maturity: | June 15, 2023
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 2 times any index gain, capped at 30.25%; if index falls by up to 25%, par; otherwise, 1% for each 1% decline
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Initial level: | 1,387.685
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Downside threshold: | 1,040.764, 75% of initial level
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Pricing date: | June 12
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Settlement date: | June 17
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Agents: | UBS Financial Services Inc. and HSBC Securities (USA) Inc.
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Fees: | 2.5%
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Cusip: | 40438J650
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