Published on 12/21/2020 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $6.72 million trigger securities tied to S&P 500
By Cady Vishniac
Detroit, Dec. 21 – HSBC USA Inc. priced $6.72 million of 0% trigger securities due Dec. 18, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index value is greater than the initial value, the payout at maturity will be par of $10 plus the index gain.
If the final index value is equal to or less than the initial level but greater than or equal to the 71% downside threshold, the payout will be par. Otherwise, investors will be fully exposed to the decline of the index from its initial level.
UBS Financial Services Inc. and HSBC Securities (USA) Inc. are the agents.
Issuer: | HSBC USA Inc.
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Issue: | Trigger securities
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Underlying index: | S&P 500
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Amount: | $6,716,200
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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 any index gain; if index falls but finishes at or above downside threshold, par; otherwise, full exposure to losses
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Initial level: | 3,694.62
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Downside threshold: | 2,623.1802, 71% 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: | 3.5%
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Cusip: | 40438Q332
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