Published on 7/10/2020 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $1.76 million buffered digital notes on S&P 500
By Wendy Van Sickle
Columbus, Ohio, July 10 – HSBC USA Inc. priced $1.76 million of 0% buffered digital notes due July 10, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final level of the index is greater than or equal to its buffer level, 88% of its initial level, the payout at maturity will be $1,150 for each $1,000 of notes. Otherwise, investors will lose 1% for every 1% that the index declines beyond 12%.
HSBC Securities (USA) Inc. is the underwriter.
Issuer: | HSBC USA Inc.
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Issue: | Buffered digital notes
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Underlying index: | S&P 500 index
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Amount: | $1,762,000
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Maturity: | July 10, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the final index level is greater or equal to 88% of its initial level, $1,150 for each $1,000 of notes; otherwise, 1% loss for every 1% decline beyond 12%
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Initial index level: | 3,145.32
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Buffer level: | 88% of initial level
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Pricing date: | July 7
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Settlement date: | July 10
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Underwriter: | HSBC Securities (USA) Inc.
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Fees: | 2.025%
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Cusip: | 40438CLZ2
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