Published on 8/20/2020 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $3.01 million PLUS linked to Financial Select Sector SPDR
By Wendy Van Sickle
Columbus, Ohio, Aug. 20 – HSBC USA Inc. priced $3.01 million of 0% Performance Leveraged Upside Securities due Dec. 3, 2021 linked to the Financial Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the fund return is positive, the payout at maturity will be par of $10 plus 300% of the fund return, subject to a maximum return of 21%. If the fund return is negative, investors will be exposed to the decline.
HSBC Securities (USA) Inc. is the agent. Morgan Stanley Wealth Management is handling distribution.
Issuer: | HSBC USA Inc.
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Issue: | Performance Leveraged Upside Securities
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Underlying fund: | Financial Select Sector SPDR fund
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Amount: | $3,009,900
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Maturity: | Dec. 3, 2021
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If fund return is positive, par plus 300% of fund return, subject to maximum return of 21%; if fund return is negative, exposure to decline
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Initial level: | $25.18
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Pricing date: | Aug. 14
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Settlement date: | Aug. 19
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Agent: | HSBC Securities (USA) Inc.
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Distribution: | Morgan Stanley Wealth Management
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Fees: | 2.25%
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Cusip: | 40438J288
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