Published on 8/3/2020 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $2.00 million buffered digital notes linked to S&P 500
By Marisa Wong
Los Angeles, Aug. 3 – HSBC USA Inc. priced $2,002,000 of 0% buffered digital notes due Aug. 1, 2022 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 90% of the initial level, the payout at maturity will be par plus 11.25%. Otherwise, investors will lose 1% for every 1% that the index declines beyond 10%.
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: | $2,002,000
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Maturity: | Aug. 1, 2022
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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 90% of its initial level, par plus 11.25%; otherwise, 1% loss for every 1% decline beyond 10%
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Initial index level: | 3,218.44
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Pricing date: | July 28
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Settlement date: | July 31
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Underwriter: | HSBC Securities (USA) Inc.
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Fees: | 2.8%
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Cusip: | 40438CPJ4
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