Published on 4/15/2021 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $500,000 buffered digital notes linked to three stocks
By Emma Trincal
New York, April 15 – HSBC USA Inc. priced $500,000 of 0% buffered digital notes due May 16, 2022 linked to the least performing of the common stocks of Apple Inc., Amazon.com, Inc. and Netflix Inc., according to a 424B2 filing with the Securities and Exchange Commission.
If the final level of the least performing stock is greater than or equal to 80% of its initial level, the payout at maturity will be par plus 10%. Otherwise, investors will lose 1% for every 1% that the laggard stock declines beyond 20%.
HSBC Securities (USA) Inc. is the underwriter.
Issuer: | HSBC USA Inc.
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Issue: | Buffered digital notes
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Underlying stocks: | Apple Inc., Amazon.com, Inc. and Netflix Inc.
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Amount: | $500,000
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Maturity: | May 16, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each stock finishes at or above 80% of initial level, par plus 10%; otherwise, 1% loss for every 1% decline of laggard stock beyond 20%
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Initial levels: | $131.24 for Apple, $3,379.39 for Amazon and $552.78 for Netflix
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Buffer levels: | $104.99 for Apple, $2,703.51 for Amazon and $442.22 for Netflix, 80% of initial levels
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Pricing date: | April 12
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Settlement date: | April 15
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Underwriter: | HSBC Securities (USA) Inc.
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Fees: | 0.6%
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Cusip: | 40438C5C1
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