Published on 4/6/2022 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $1.37 million buffered PLUS tied to S&P 500 index
By Wendy Van Sickle
Columbus, Ohio, April 6 – HSBC USA Inc. priced $1.37 million of 0% buffered Performance Leveraged Upside Securities due June 23, 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 200% of the index return, subject to a maximum payout of par plus 15%. Investors will receive par if the index declines by 10% or less and will lose 1% for every 1% that it declines beyond 10%.
HSBC Securities (USA) Inc. is the agent with Morgan Stanley Smith Barney LLC as distributor.
Issuer: | HSBC USA Inc.
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Issue: | Buffered Performance Leveraged Upside Securities
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Underlying fund: | S&P 500 index
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Amount: | $1,367,200
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Maturity: | June 23, 2023
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If the index return is positive, the payout at maturity will be par plus 200% of the index return, capped at 15%; investors will receive par if the index declines by 10% or less; otherwise, 1% loss for every 1% decline beyond 10%
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Initial level: | 4,530.41
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Buffer level: | 90% of initial level
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Pricing date: | March 31
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Settlement date: | April 7
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Agents: | HSBC Securities (USA) Inc. with Morgan Stanley Smith Barney LLC as distributor
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Fees: | 0%
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Cusip: | 40439JU52
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