Published on 9/13/2021 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $9.91 million digital notes linked to S&P 500
By Marisa Wong
Los Angeles, Sept. 13 – HSBC USA Inc. priced $9.91 million of 0% digital notes due Dec. 13, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final level of the index is greater than or equal to 85% of the initial level, the payout at maturity will be $1,122.60 for each $1,000 principal amount. Otherwise, investors will lose 1.1765% for every 1% index decline beyond 15%.
HSBC Securities (USA) Inc. is the underwriter.
Issuer: | HSBC USA Inc.
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Issue: | Digital notes
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Underlying index: | S&P 500
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Amount: | $9,913,000
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Maturity: | Dec. 13, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index finishes at or above 85% of initial level, par plus 12.26%; otherwise, 1.1765% loss for every 1% index decline beyond 15%
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Initial index level: | 4,514.07
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Pricing date: | Sept. 8
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Settlement date: | Sept. 15
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Underwriter: | HSBC Securities (USA) Inc.
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Fees: | None
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Cusip: | 40439JLV5
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