Published on 12/19/2020 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $258,000 buffered digital notes on NYSE FANG+
By Kiku Steinfeld
Chicago, Dec. 21 – HSBC USA Inc. priced $258,000 of 0% buffered digital notes due Dec. 14, 2023 linked to the NYSE FANG+ index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final level of the index is greater than or equal to 90% of the initial level, the payout at maturity will be par plus 17%. Otherwise, investors will lose 1% for every 1% that the index declines beyond 10%.
HSBC Securities (USA) Inc. is the underwriter.
Issuer: | HSBC USA Inc.
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Issue: | Buffered digital notes
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Underlying index: | NYSE FANG+ index
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Amount: | $258,000
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Maturity: | Dec. 14, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the final index level is greater or equal to 90% of its initial level, par plus 17%; otherwise, 1% loss for every 1% decline beyond 10%
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Initial index level: | 5,816.080
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Buffer level: | 90% of initial level
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Pricing date: | Dec. 9
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Settlement date: | Dec. 14
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Underwriter: | HSBC Securities (USA) Inc.
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Fees: | 2.025%
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Cusip: | 40438CE64
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