Published on 10/3/2022 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $1.1 million buffered AMPS linked to NYSE FANG+
By William Gullotti
Buffalo, N.Y., Oct. 3 – HSBC USA Inc. priced $1.1 million of 0% buffered Accelerated Market Participation Securities due Feb. 28, 2025 linked to the NYSE FANG+ 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 29.3%.
Investors will receive par if the index falls by 15% or less and will lose 1% for every 1% decline beyond the 15% buffer.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Buffered Accelerated Market Participation Securities
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Underlying index: | NYSE FANG+ index
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Amount: | $1,103,000
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Maturity: | Feb. 28, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index return is positive, par plus 200% of the index return, capped at par plus 29.3%; par if index declines by 15% or less; otherwise, 1% loss for every 1% index decline beyond 15% buffer
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Initial index level: | 5,405.325
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Buffer level: | 85% of initial level
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Pricing date: | Aug. 26
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Settlement date: | Aug. 31
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Underwriter: | HSBC Securities (USA) Inc.
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Fees: | 2.25%
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Cusip: | 40441XFL9
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