Published on 9/3/2021 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $6.79 million capped gears on S&P 500
By William Gullotti
Buffalo, N.Y., Sept. 3 – HSBC USA Inc. priced $6.79 million of 0% capped gears due Oct. 31, 2022 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 triple any index gain, up to a maximum return of par plus 11.2%.
Investors will be exposed to any losses.
UBS Financial Services Inc. and HSBC USA Inc. are the agents.
Issuer: | HSBC USA Inc.
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Issue: | Capped gears
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Underlying index: | S&P 500 index
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Amount: | $6,789,460
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Maturity: | Oct. 31, 2022
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus three times any index gain, capped at par plus 11.2%; 1% loss per 1% decline
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Initial level: | 4,470.0
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Pricing date: | Aug. 26
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Settlement date: | Aug. 31
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Agents: | UBS Financial Services Inc. and HSBC USA Inc.
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Fees: | 2%
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Cusip: | 40439K367
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