Published on 7/16/2020 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $5.05 million buffered notes with fixed coupon on S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, July 16 – HSBC USA Inc. priced $5.05 million of 6.75% buffered notes due July 14, 2021 linked to the least performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
If the least performing index return is greater than negative 20%, the payout at maturity will be par. Investors will lose 1.25% for every 1% decline of the least performing index beyond the 20% buffer.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Buffered notes
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Underlying indexes: | Russell 2000 index, S&P 500 index
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Amount: | $5.05 million
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Maturity: | July 14, 2021
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Coupon: | 6.75%, payable monthly
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Price: | Par
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Payout at maturity: | If least performing index gains or falls by up to 20%, par; 1.25% loss for every 1% drop beyond buffer
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Initial levels: | 1,427.402 for Russell and 3,169.94 for S&P
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Pricing date: | July 8
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Settlement date: | July 14
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 0%
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Cusip: | 40438CQF1
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