Published on 7/28/2022 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $11.16 million leveraged buffered capped notes on S&P 500
By Marisa Wong
Los Angeles, July 28 – HSBC USA Inc. priced $11.16 million of 0% leveraged buffered capped notes due Aug. 14, 2024 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 1.6 times the index gain, subject to a maximum settlement amount of $1,302.72 per $1,000 principal amount.
Investors will receive par if the index declines by 17.5% or less and will lose 1.2121% for every 1% that it declines beyond 17.5%.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Leveraged buffered capped notes
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Underlying index: | S&P 500
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Amount: | $11,159,000
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Maturity: | Aug. 14, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.6 times any index gain, capped at par plus 30.272%; par if index declines by 17.5% or less; 1.2121% loss for every 1% decline beyond 17.5%
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Initial level: | 3,966.84
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Pricing date: | July 25
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Settlement date: | Aug. 1
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Agent: | HSBC Securities (USA) Inc.
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Fees: | None
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Cusip: | 40441XFB1
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