Published on 8/30/2022 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $18.24 million Accelerated Return Notes linked to Energy SPDR ETF
By William Gullotti
Buffalo, N.Y., Aug. 30 – HSBC USA Inc. priced $18.24 million of 0% Accelerated Return Notes due Oct. 27, 2023 linked to the Energy Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus triple any ETF gain, up to a maximum payout of par plus 40.73%.
Investors will be fully exposed to any ETF decline.
BofA Securities, Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Accelerated Return Notes
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Underlying fund: | Energy Select Sector SPDR Fund
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Amount: | $18,244,590
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Maturity: | Oct. 27, 2023
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus triple any ETF gain, capped at par plus 40.73%; full exposure to any ETF decline
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Initial level: | $83.82
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Final level: | Average of closing levels on five trading days ending Oct. 24, 2023
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Pricing date: | Aug. 25
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Settlement date: | Sept. 1
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Agent: | BofA Securities, Inc.
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Fees: | 1.75%
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Cusip: | 40390L156
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