Published on 4/16/2021 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $2.61 million buffered PLUS linked to S&P 500
Chicago, April 16 – HSBC USA Inc. priced $2.61 million of 0% buffered Performance Leveraged Upside Securities due Oct. 4, 2023 tied to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par of $10 plus 200% of the index return, subject to a maximum return of 17%. Investors will receive par if the index declines by 10% or less and will lose 1% for every 1% that it declines beyond 10%.
HSBC Securities (USA) Inc. is the agent with Morgan Stanley Wealth Management as a dealer.
Issuer: | HSBC USA Inc.
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Issue: | Buffered Performance Leveraged Upside Securities
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Underlying index: | S&P 500
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Amount: | $2,611,000
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Maturity: | Oct. 4, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index return is positive, par plus 200% of index return, subject to 17% maximum return; par if index declines by 10% or less; 1% loss for every 1% that index declines beyond 10%
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Initial level: | 3,943.34
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Buffer level: | 90% of initial level
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Pricing date: | March 12
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Settlement date: | March 17
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Agent: | HSBC Securities (USA) Inc. with Morgan Stanley Wealth Management as a dealer
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Fees: | 3%
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Cusip: | 40438U721
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