Published on 10/7/2020 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $250,000 reopened trigger gears due 2028 linked to S&P 500
By Marisa Wong
Los Angeles, Oct. 7 – HSBC USA Inc. priced $250,000 of additional 0% trigger gears due Jan. 31, 2028 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
HSBC originally issued $17,513,990 of the trigger gears on Jan. 31, 2018. With the reopened notes issued on Oct. 5, the total issue amount is $17,763,990.
The payout at maturity will be par plus 1.43 times any index gain.
If the index falls by up to 50%, the payout will be par.
Otherwise, investors will be fully exposed to any losses.
UBS Financial Services Inc. and HSBC Securities (USA) Inc. are the agents.
Issuer: | HSBC USA Inc.
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Issue: | Trigger gears
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Underlying index: | S&P 500 index
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Amount: | $17,763,990, increased from $17,513,990
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Maturity: | Jan. 31, 2028
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 1.43 times any index gain; if index falls by up to 50%, par; otherwise, 1% loss for each 1% decline below initial level
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Initial level: | 2,872.87
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Downside threshold: | 1,436.435, 50% of initial level
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Pricing date: | Jan. 26, 2018 for $17,513,990, Oct. 1 for $250,000
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Settlement date: | Jan. 31, 2018 for $17,513,990, Oct. 5 for $250,000
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Agents: | UBS Financial Services Inc. and HSBC Securities (USA) Inc.
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Fees: | 0.5% for original issue
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Cusip: | 40435J547
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