Published on 7/7/2021 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $1.24 million barrier uncapped market participation notes on ETF, index
By William Gullotti
Buffalo, N.Y., July 7 – HSBC USA Inc. priced $1.24 million of 0% barrier uncapped market participation securities due July 6, 2026 tied to the least performing of the S&P 500 ESG index and the iShares Global Clean Energy ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If the return of each underlier is positive, the payout at maturity will be par plus 1.8 times the return of the least-performing underlier.
Investors will receive par if any underlier falls by up to 30%.
Otherwise, investors will be fully exposed to the least-performing asset’s decline from its initial level.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Barrier uncapped market participation securities
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Underlying assets: | S&P 500 ESG index, iShares Global Clean Energy ETF
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Amount: | $1,242,000
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Maturity: | July 6, 2026
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each underlier finishes above its initial level, par plus 1.8 times the increase of least-performing underlier; par if any underlier falls by up to 30%; otherwise, 1% loss for every 1% least-performing underlier declines from its initial level
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Initial levels: | 367.27 for S&P ESG, $23.46 for Energy ETF
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Barrier levels: | 70% of initial levels
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Pricing date: | June 30
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Settlement date: | July 6
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 0.75%
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Cusip: | 40439JCD5
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