Published on 9/12/2020 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $65,000 barrier uncapped participation notes on S&P, Russell
By Taylor Fox
New York, Sept. 14 – HSBC USA Inc. priced $65,000 of 0% barrier uncapped market participation securities due Feb. 28, 2022 linked to the least performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the return of each index is positive, the payout at maturity will be par plus 110% of the least-performing index’s return.
If the return of the least-performing index is less than or equal to zero but greater than or equal to negative 20%, the payout will be par.
If the return of any index is less than negative 20%, investors will lose 1% for every 1% that the least-performing index declines from its initial level.
HSBC Securities (USA) Inc. is the underwriter.
Issuer: | HSBC USA Inc.
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Issue: | Barrier uncapped market participation securities
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Underlying indexes: | S&P 500 index, Russell 2000 index
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Amount: | $65,000
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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 return of each index is positive, par plus 110% of least-performing index’s return; if return of least-performing index is less than or equal to zero but greater than or equal to negative 20%, par; if return of worst index is less than negative 20%, 1% loss for every 1% that least-performing index declines from initial level
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Initial levels: | 3,478.73 for S&P and 1,560.193 for Russell
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Barrier levels: | 80% of initial levels
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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: | 1.5%
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Cusip: | 40438CSY8
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