Published on 8/24/2020 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $519,000 leveraged buffered uncapped notes on indexes
By Wendy Van Sickle
Columbus, Ohio, Aug. 24 – HSBC USA Inc. priced $519,000 of 0% leveraged buffered uncapped market participation securities due Aug. 25, 2023 tied to the least performing of the S&P 500 index, the Russell 2000 index, the Dow Jones industrial average and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the least-performing index gains, the payout at maturity will be par plus 1.55 times its return.
Investors will receive par if the least-performing index falls by up to 15% and will lose 1% for each 1% decline beyond 15%.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Leveraged buffered uncapped market participation securities
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Underlying indexes: | S&P 500 index, Russell 2000 index, Dow Jones industrial average and Nasdaq-100 index
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Amount: | $519,000
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Maturity: | Aug. 25, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.55 times any least-performing index gain; par if least-performing index falls by up to 15%; 1% loss for each 1% decline beyond 15%
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Initial levels: | 3,385.51 for S&P 500, 1,564.301 for Russell, 27,739.73 for Dow, 11,477.05 for Nasdaq
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Pricing date: | Aug. 20
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Settlement date: | Aug. 25
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 0.5%
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Cusip: | 40438CTQ4
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