Published on 7/13/2020 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $2.93 million buffered coupon notes linked to S&P 500
By Marisa Wong
Los Angeles, July 13 – HSBC USA Inc. priced $2,927,000 of 0% buffered coupon notes due Dec. 29, 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 12.3%.
If the index finishes below 90% of its initial level, investors will lose 1.1111% for every 1% decline beyond the 10% buffer.
HSBC Securities (USA) Inc. is the underwriter.
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: | $2,927,000
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Maturity: | Dec. 29, 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 12.3%; otherwise, 1.1111% loss for every 1% decline beyond 10%
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Initial index level: | 3,083.76
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Pricing date: | June 25
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Settlement date: | June 30
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Underwriter: | HSBC Securities (USA) Inc.
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Fees: | 1.25%
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Cusip: | 40438CLU3
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