Published on 8/12/2020 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $1.59 million buffered AMPS linked to SPDR S&P Biotech ETF
By Kiku Steinfeld
Chicago, Aug. 12 – HSBC USA Inc. priced $1.59 million of 0% buffered accelerated market participation securities due Jan. 31, 2023 linked to the SPDR S&P Biotech ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF return is positive, the payout at maturity will be par plus 200% of the ETF return, capped at par plus 34%.
Investors will receive par if the ETF falls by 10% or less and will lose 1% for every 1% decline beyond the 10% buffer.
HSBC USA Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Buffered accelerated market participation securities
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Underlying ETF: | SPDR S&P Biotech ETF
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Amount: | $1,589,000
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Maturity: | Jan. 31, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the ETF return is positive, par plus 200% of the ETF return, capped at par plus 34%; par if the ETF falls by 10% or less; 1% loss for every 1% decline beyond the 10% buffer
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Initial ETF level: | $112.20
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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: | 2.25%
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Cusip: | 40438CNF4
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