Published on 9/4/2020 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $9.17 million buffered AMPS tied to S&P 500
By Sarah Lizee
Olympia, Wash., Sept. 4 – HSBC USA Inc. priced $9.17 million of 0% buffered Accelerated Market Participation Securities due Sept. 3, 2024 tied to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 1.2 times any index gain, capped at par plus 48%.
Investors will receive par if the index falls by up to 20% and will lose 1.25% for each 1% decline beyond 20%.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Buffered Accelerated Market Participation Securities
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Underlying index: | S&P 500 index
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Amount: | $9,173,000
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Maturity: | Sept. 3, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 120% of any index gain, capped at par plus 48%; par if index falls by up to 20%; 1.25% loss for each 1% decline beyond 20%
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Initial value: | 3,500.31
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Buffer level: | 80% of initial level
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Pricing date: | Aug. 31
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Settlement date: | Sept. 3
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Agent: | HSBC Securities (USA) Inc.
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Fees: | None
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Cusip: | 40438CTU5
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