Published on 12/18/2020 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $5 million return enhanced notes linked to salesforce
By Wendy Van Sickle
Columbus, Ohio, Dec. 18 – HSBC USA Inc. priced $5 million of 0% return enhanced notes due Dec. 16, 2025 linked to the common stock of salesforce.com, inc., according to a 424B2 filing with the Securities and Exchange Commission.
If the stock return is greater than zero, the payout at maturity will be par plus 500% of the stock return, subject to a maximum return of 91.25%. Investors will lose 1% for every 1% that the stock might decline.
HSBC Securities (USA) Inc. is the underwriter. JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are placement agents.
Issuer: | HSBC USA Inc.
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Issue: | Return enhanced notes
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Underlying stock: | salesforce.com, inc.
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Amount: | $5 million
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Maturity: | Dec. 16, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If stock return is greater than zero, par plus 500% of stock return, subject to maximum return of 91.25%; 1% loss for every 1% that stock declines
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Initial stock price: | $222.42
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Final stock price: | Average of stock’s closing levels on five trading days ending Dec. 11, 2025
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Pricing date: | Dec. 11
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Settlement date: | Dec. 16
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Underwriter: | HSBC Securities (USA) Inc.
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Agents: | JPMorgan Chase Bank NA and J.P. Morgan Securities LLC
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Fees: | 0.5%
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Cusip: | 40438CL74
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