Published on 6/8/2021 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $1.78 million capped buffer gears linked to S&P 500
By Wendy Van Sickle
Columbus, Ohio, June 8 – HSBC USA Inc. priced $1.78 million of 0% capped buffer gears due May 18, 2023 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 of $10 plus double any index gain, capped at par plus 12.35%.
Investors will receive par if the index finishes flat or falls by up to 10% and will lose 1% for every 1% index decline beyond 10%.
UBS Financial Services Inc. and HSBC Securities (USA) Inc. are the agents.
Issuer: | HSBC USA Inc.
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Issue: | Capped buffer gears
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Underlying index: | S&P 500 index
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Amount: | $1,777,400
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Maturity: | May 18, 2023
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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 12.35%; par if index finishes flat or falls by up to 10%; 1% loss for every 1% decline beyond 10%
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Initial level: | 4,173.85
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Downside threshold: | 3,756.465, 90% of initial level
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Pricing date: | May 14
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Settlement date: | May 19
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Agents: | UBS Financial Services Inc. and HSBC Securities (USA) Inc.
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Fees: | None
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Cusip: | 40438U267
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