Published on 12/2/2020 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $15.08 million 14-month capped gears on S&P 500
By Cady Vishniac
Detroit, Dec. 2 – HSBC USA Inc. priced $15.08 million of 0% capped gears due Jan. 31, 2022 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 of $10 plus triple any index gain, up to a maximum return of 13.65%.
Investors will be exposed to any losses.
UBS Financial Services Inc. and HSBC 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 index
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Amount: | $15,079,640
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Maturity: | Jan. 31, 2022
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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 13.65%; 1% loss per 1% decline
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Initial level: | 3,635.41
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Pricing date: | Nov. 24
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Settlement date: | Nov. 30
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Agents: | UBS Financial Services Inc. and HSBC USA Inc.
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Fees: | 2%
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Cusip: | 40438Q472
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