Published on 7/27/2020 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $5.63 million leveraged buffered capped notes linked to S&P 500
By Kiku Steinfeld
Chicago, July 24 – HSBC USA Inc. priced $5.63 million of 0% leveraged buffered capped notes due Aug. 25, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus 1.5 times the index return, subject to a maximum return of 14.295%. Investors will receive par if the index declines by 10% or less and will lose 1.1111% for every 1% that it declines beyond 10%.
HSBC Securities (USA) Inc. is the underwriter.
Issuer: | HSBC USA Inc.
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Issue: | Leveraged buffered capped notes
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Underlying index: | S&P 500
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Amount: | $5,627,000
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Maturity: | Aug. 25, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index return is positive, par plus 1.5 times index return, subject to maximum return of 14.295%; par if index declines by 10% or less; 1.1111% loss for every 1% that index declines beyond 10%
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Initial level: | 3,215.57
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Pricing date: | July 16
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Settlement date: | July 23
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Underwriter: | HSBC Securities (USA) Inc.
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Fees: | None
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Cusip: | 40438CQQ7
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