Published on 7/2/2020 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $3.11 million buffered AMPS linked to index, ETF basket
By Wendy Van Sickle
Columbus, Ohio, July 2 – HSBC USA Inc. priced $3.11 million of 0% buffered Accelerated Market Participation Securities due June 29, 2022 linked to a basket containing the S&P 500 index with a 70% weight, the Russell 2000 index with a 15% weight and the iShares MSCI EAFE exchange-traded fund with a 15% weight, according to a 424B2 filing with the Securities and Exchange Commission.
If the basket return is positive, the payout at maturity will be par plus the basket return, subject to a maximum return of 18%%. Investors will receive par if the basket declines by 15% or less and will lose 1% for every 1% that it declines beyond 15%.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
|
Issue: | Buffered Accelerated Market Participation Securities
|
Underlying basket: | S&P 500 index (70% weight), Russell 2000 index (15% weight) and iShares MSCI EAFE ETF (15% weight)
|
Amount: | $3,113,000
|
Maturity: | June 29, 2022
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | Par plus any basket gain, up to maximum return of 18%; par if basket declines by 15% or less; 1% loss for every 1% that basket declines beyond 15%
|
Initial share price: | 3,050.33 for S&P 500, 1,389.741 for Russell, $60.52 for ETF
|
Pricing date: | June 24
|
Settlement date: | June 29
|
Agent: | HSBC Securities (USA) Inc.
|
Fees: | 0.45%
|
Cusip: | 40438CLW9
|
|
© 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.