Published on 12/13/2021 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $1.3 million bear Accelerated Return Notes linked to S&P 500
By Wendy Van Sickle
Columbus, Ohio, Dec. 13 – HSBC USA Inc. priced $1.3 million of 0% bear Accelerated Return Notes due Oct. 28, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is negative, the payout at maturity will be par of $10 plus 3% for every 1% that the index declines, subject to a maximum return of 15%. If the index return is positive, investors will lose 1% for every 1% that the index increases.
BofA Merrill Lynch is the underwriter.
Issuer: | HSBC USA Inc.
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Issue: | Bear Accelerated Return Notes
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Underlying index: | S&P 500
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Amount: | $1,297,500
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Maturity: | Oct. 28, 2022
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If index return is negative, par plus 3% for every 1% that index declines, subject to 15% maximum return; if index return is positive, 1% loss for every 1% that index increases
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Initial index level: | 4,405.8
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Final index level: | Average of index’s closing levels on five trading days ending Oct. 25, 2022
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Pricing date: | Aug. 19
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Settlement date: | Aug. 27
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Agent: | BofA Securities, Inc.
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Fees: | 1.75%
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Cusip: | 40439K557
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