Published on 7/26/2021 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $575,000 contingent buffered notes on S&P 500
By Kiku Steinfeld
Chicago, July 26 – HSBC USA Inc. priced $575,000 of 0% contingent buffered notes due June 16, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final level of the stock is greater than or equal to its knock-out buffer level, 80% of its initial level, the payout at maturity will be par plus 5.3%.
Otherwise, investors will be exposed to the losses of the index.
HSBC Securities (USA) Inc. is the agent with J.P. Morgan Securities LLC as the placement agent.
Issuer: | HSBC USA Inc.
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Issue: | Contingent buffered notes
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Underlying index: | S&P 500 index
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Amount: | $575,000
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Maturity: | June 16, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the final stock level is greater or equal to knock-out buffer level, par plus 5.3%; otherwise, exposure to losses
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Initial level: | 4,204.11
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Knock-out buffer level: | 80% of initial level
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Pricing date: | May 28
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Settlement date: | June 3
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Agents: | HSBC Securities (USA) Inc. with J.P. Morgan Securities LLC as placement agent
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Fees: | 1%
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Cusip: | 40439JBM6
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