Published on 9/8/2020 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $11.01 million of leveraged capped notes linked to S&P 500
By Kiku Steinfeld
Chicago, Sept. 8 – HSBC USA Inc. priced $11.01 million of leveraged capped notes due Sept. 30, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
f the index return is positive, the payout at maturity will be par plus triple the index return, subject to a maximum payment of $ $1,151.50 per $1,000 of notes.
Investors will lose 1% for each 1% decline.
HSBC Securities (USA) Inc. is the underwriter.
Issuer: | HSBC USA Inc.
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Issue: | Leveraged capped notes
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Underlying index: | S&P 500
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Amount: | $11,007,000
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Maturity: | Sept. 30, 2021
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Coupon: | 0%
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Price: | Par of $1,000
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Payout at maturity: | Par plus triple any index gain, capped at 15.15%; 1% loss for every 1% drop
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Initial level: | 3,508.01
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Pricing date: | Aug. 28
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Settlement date: | Sept. 4
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Underwriter: | HSBC Securities (USA) Inc.
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Fees: | 1.8%
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Cusip: | 40438CTY7
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