Published on 12/6/2020 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $1.93 million buffered coupon notes linked to S&P 500
By Kiku Steinfeld
Chicago, Dec. 7 – HSBC USA Inc. priced $1.93 million of 0% buffered coupon notes due May 27, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above 90% of its initial level, the payout will be par plus 9%.
If the index finishes below 90% of its initial level, investors will lose 1.1111% for every 1% decline beyond the 10% buffer.
HSBC Securities (USA) Inc. is the agent, with JPMorgan Chase Bank, N.A. and J.P. Morgan Securities LLC acting as placement agents.
Issuer: | HSBC USA Inc.
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Issue: | Buffered coupon notes
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Underlying index: | S&P 500
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Amount: | $1,934,000
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Maturity: | May 27, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the index finishes at or above 90% of its initial level, par plus 9%; otherwise, 1.1111% loss for every 1% decline beyond 10%
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Initial index level: | 3,635.41
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Final level: | Average of index closing levels on each of the five trading dates ending May 24, 2022
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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. with JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC as placement agents
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Fees: | 1.25%
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Cusip: | 40438CB83
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