Published on 9/29/2020 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $28.65 million 14-month capped gears linked to S&P 500
By Marisa Wong
Los Angeles, Sept. 29 – HSBC USA Inc. priced $28.65 million of 0% capped gears due Nov. 30, 2021 linked 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 3 times any index gain, subject to a maximum payout of par plus 16.4%. Investors will be fully exposed to any index decline.
UBS Financial Services Inc. and HSBC Securities (USA) Inc. are the agents.
Issuer: | HSBC USA Inc.
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Issue: | Capped gears
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Underlying index: | S&P 500
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Amount: | $28,651,640
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Maturity: | Nov. 30, 2021
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 3 times any index gain, capped at par plus 16.4%; full exposure to any losses
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Initial level: | 3,298.46
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Pricing date: | Sept. 25
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Settlement date: | Sept. 30
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Agents: | UBS Financial Services Inc. and HSBC Securities (USA) Inc.
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Fees: | 2%
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Cusip: | 40438Q779
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