Published on 12/30/2020 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $940,000 buffered AMPS on SPDR S&P Biotech ETF
By Cady Vishniac
Detroit, Dec. 30 – HSBC USA Inc. priced $940,000 of 0% buffered accelerated market participation securities due Dec. 22, 2023 linked to the SPDR S&P Biotech exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF return is positive, the payout at maturity will be par plus 150% of the ETF return, capped at par plus 27.6%.
Investors will receive par if the ETF falls by 15% or less and will lose 1% for every 1% decline beyond 15%.
HSBC USA Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Buffered accelerated market participation securities
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Underlying ETF: | SPDR S&P Biotech ETF
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Amount: | $940,000
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Maturity: | Dec. 22, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If ETF gains, par plus 150% of ETF gain, capped at par plus 27.6%; par if ETF declines by 15% or less; 1% loss for every 1% ETF decline beyond 15%
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Initial ETF price: | $146.65
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Pricing date: | Dec. 17
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Settlement date: | Dec. 22
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Underwriter: | HSBC Securities (USA) Inc.
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Fees: | 2.5%
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Cusip: | 40438CF22
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