Published on 9/6/2020 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $3.56 million buffered coupon notes linked to Nasdaq-100
By Marisa Wong
Los Angeles, Sept. 8 – HSBC USA Inc. priced $3.56 million of 0% buffered coupon notes due Feb. 28, 2022 linked to the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above 90% of its initial level, the payout will be par plus 12.3%.
If the index finishes below 90% of its initial level, investors will lose 1.1111% for every 1% decline beyond the 10% buffer.
HSBC Securities (USA) Inc. is the underwriter.
Issuer: | HSBC USA Inc.
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Issue: | Buffered coupon notes
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Underlying index: | Nasdaq-100 index
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Amount: | $3,557,000
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Maturity: | Feb. 28, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the index finishes at or above 90% of its initial level, par plus 12.3%; otherwise, 1.1111% loss for every 1% decline beyond 10%
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Initial index level: | 11,971.94
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Final level: | Average of index closing levels on each of the five trading dates ending Feb. 23, 2022
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Pricing date: | Aug. 26
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Settlement date: | Aug. 31
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Underwriter: | HSBC Securities (USA) Inc.
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Fees: | 1.25%
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Cusip: | 40438CRD5
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