Published on 12/2/2020 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $14.08 million Capped Leveraged Index Return Notes on Russell 2000
By Cady Vishniac
Detroit, Dec. 2 – HSBC USA Inc. priced $14.08 million of 0% Capped Leveraged Index Return Notes due Nov. 25, 2022 linked to the Russell 2000 index, according to a 424B2 filed with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par of $10 plus 200% of the index return, subject to a maximum payout of par plus 15.4%. Investors will receive par if the index declines by 10% or less and will lose 1% for every 1% that it declines beyond 10%.
BofA Securities, Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Capped Leveraged Index Return Notes
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Underlying index: | Russell 2000 index
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Amount: | $14,082,100
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Maturity: | Nov. 25, 2022
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If index return is positive, par plus 200% of index return, subject to maximum payout of par plus 15.4%; par if index declines by 10% or less; 1% loss for every 1% that index declines beyond 10%
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Initial level: | 1,853.532
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Threshold level: | 1,668.179, or 90% of initial level
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Final level: | Average of index’s closing levels on five trading days ending Nov. 21, 2022
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Pricing date: | Nov. 24
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Settlement date: | Dec. 2
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Agent: | BofA Securities, Inc.
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Fees: | 2%
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Cusip: | 40438Q639
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