Published on 7/24/2020 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $1.3 million leveraged capped notes linked to S&P 500
By Kiku Steinfeld
Chicago, July 24 – HSBC USA Inc. priced $1.3 million of leveraged notes due April 20, 2022 linked to the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.
The payout at maturity will be par plus triple any index gain, up to a maximum settlement amount of $1,252 per $1,000 of notes.
Investors will be exposed to any losses.
HSBC Securities (USA) Inc. is the underwriter.
| Issuer: | HSBC USA Inc.
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| Issue: | Leveraged capped notes
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| Underlying index: | S&P 500
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| Amount: | $1,299,000
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| Maturity: | April 20, 2022
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 300% of any index gain, capped at 25.2%; exposure to any losses
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| Initial level: | 3,226.56
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| Pricing date: | July 15
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| Settlement date: | July 22
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| Underwriters: | HSBC Securities (USA) Inc.
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| Fees: | None
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| Cusip: | 40438CQK0
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