Published on 2/2/2021 in the Prospect News Green Finance Daily and Prospect News Structured Products Daily.
New Issue: HSBC prices $39.85 million Accelerated Return Notes on iShares Global Clean Energy
By Marisa Wong
Los Angeles, Feb. 2 – HSBC USA Inc. priced $39.85 million of 0% Accelerated Return Notes due March 25, 2022 linked to the iShares Global Clean Energy exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus 300% of any increase in the ETF, capped at par plus 44.01%. Investors will be exposed to any decline in the ETF’s share price.
BofA Securities, Inc. is the underwriter.
Issuer: | HSBC USA Inc.
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Issue: | Accelerated Return Notes
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Underlying ETF: | iShares Global Clean Energy ETF
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Amount: | $39,854,860
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Maturity: | March 25, 2022
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 300% of any increase in ETF, capped at par plus 44.01%; exposure to any ETF decline
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Initial value: | $30.82
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Final share price: | Average of closing share prices on five trading days ending March 22, 2022
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Pricing date: | Jan. 28
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Settlement date: | Feb. 4
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Underwriter: | BofA Securities, Inc.
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Fees: | 1.75%
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Cusip: | 40438Q217
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