Published on 2/9/2021 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $4.45 million capped trigger gears linked to S&P 500
By Kiku Steinfeld
Chicago, Feb. 9 – HSBC USA Inc. priced $4.45 million of 0% capped trigger gears due Jan. 31, 2024 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 2 times any index gain, capped at par plus 26.25%.
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: | Capped trigger gears
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Underlying index: | S&P 500 index
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Amount: | $4,449,990
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Maturity: | Jan. 31, 2024
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 2 times any index gain, capped at par plus 26.25%; if index falls by up to 25%, par; otherwise, 1% loss for each 1% decline below initial level
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Initial level: | 3,849.62
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Downside threshold: | 2,887.215, 75% of initial level
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Pricing date: | Jan. 26
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Settlement date: | Jan. 29
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Agents: | UBS Financial Services Inc. and HSBC Securities (USA) Inc.
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Fees: | 2.5%
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Cusip: | 40438U200
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