Published on 12/15/2021 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $21.34 million Accelerated Return Notes on cyber security stock basket
By Marisa Wong
Los Angeles, Dec. 15 – HSBC USA Inc. priced $21.34 million of 0% Accelerated Return Notes due Feb. 24, 2023 linked to a basket of three cyber security stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The approximately equally weighted basket consists of the common stocks of CrowdStrike Holdings, Inc., CyberArk Software Ltd. and Palo Alto Networks, Inc.
The payout at maturity will be par of $10 plus triple any basket gain, up to a maximum payout of par plus 28.02%. Investors will be exposed to any basket decline.
BofA Securities, Inc. is the underwriter.
| Issuer: | HSBC USA Inc.
|
| Issue: | Accelerated Return Notes
|
| Underlying stocks: | CrowdStrike Holdings, Inc. (Nasdaq: CRWD) with 33.34% weight, CyberArk Software Ltd. (Nasdaq: CYBR) with 33.33% weight and Palo Alto Networks, Inc. (Nasdaq: PANW) with 33.33% weight
|
| Amount: | $21,342,870
|
| Maturity: | Feb. 24, 2023
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus triple any basket gain, capped at par plus 28.02%; 1% loss for every 1% basket decline
|
| Initial prices: | $201.27 for CrowdStrike, $158.11 for CyberArk, $527.53 for Palo Alto
|
| Pricing date: | Dec. 9
|
| Settlement date: | Dec. 16
|
| Underwriter: | BofA Securities, Inc.
|
| Fees: | 1.75%
|
| Cusip: | 40390L842
|
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