Published on 12/21/2020 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $3.69 million five-year trigger gears linked to S&P 500
By Cady Vishniac
Detroit, Dec. 21 – HSBC USA Inc. priced $3.69 million of 0% trigger gears due Dec. 18, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 1.26 times any index gain.
If the index falls by up to 25%, the payout will be par.
Otherwise, investors will be fully exposed to any losses.
UBS Financial Services Inc. and HSBC Securities (USA) Inc. are the agents.
Issuer: | HSBC USA Inc.
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Issue: | Trigger gears
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Underlying index: | S&P 500 index
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Amount: | $3,691,800
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Maturity: | Dec. 18, 2025
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 1.26 times any index gain; if index falls by up to 25%, par; otherwise, 1% loss for each 1% decline below initial level
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Initial level: | 3,694.62
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Downside threshold: | 2,770.965, 75% of initial level
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Pricing date: | Dec. 15
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Settlement date: | Dec. 18
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Agents: | UBS Financial Services Inc. and HSBC Securities (USA) Inc.
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Fees: | None
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Cusip: | 40438Q340
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