Published on 9/16/2021 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $5.6 million leveraged capped notes on S&P 500
By William Gullotti
Buffalo, N.Y., Sept. 16 – HSBC USA Inc. priced $5.6 million of 0% leveraged capped index-linked notes due Nov. 15, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus triple the index gain, subject to a maximum payout of $1,252.60 per $1,000 principal amount.
Investors will lose 1% for every 1% decline from initial index level.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Leveraged capped index-linked notes
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Underlying index: | S&P 500
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Amount: | $5,603,000
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Maturity: | Nov. 15, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus three times any index gain, capped at par plus 25.62%; 1% loss for every 1% decline from initial level
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Initial level: | 4,468.73
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Pricing date: | Sept. 13
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Settlement date: | Sept. 20
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Agent: | HSBC Securities (USA) Inc.
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Fees: | None
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Cusip: | 40439JMH5
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