Published on 12/3/2020 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $881,000 buffered uncapped market participation securities on S&P, Dow
By Wendy Van Sickle
Columbus, Ohio, Dec. 3 – HSBC USA Inc. priced $881,000 of 0% buffered uncapped market participation securities due Feb. 18, 2025 tied to the least performing of the Dow Jones industrial average and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the least-performing index return is positive, the payout at maturity will be par plus 1.085 times the least-performing index return. Investors will receive par if the least-performing index falls by up to 20% and will lose 1.25% for every 1% decline in the least-performing index beyond 20%.
HSBC Securities (USA) Inc. is the underwriter.
Issuer: | HSBC USA Inc.
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Issue: | Buffered uncapped market participation securities
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Underlying indexes: | Dow Jones industrial average and S&P 500 index
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Amount: | $881,000
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Maturity: | Feb. 18, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If least-performing index return is positive, par plus 1.085 times least-performing index return; par if least-performing index falls by up to buffer; 1.25% loss for every 1% decline in least-performing index beyond buffer
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Initial index levels: | 3,635.41 for S&P, 30,046.24 for Dow
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Buffer levels: | 80% of initial levels
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Pricing date: | Nov. 24
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Settlement date: | Nov. 30
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 0.75%Cusip: | 40438CE31
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