Published on 10/31/2022 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $3.74 million capped gears linked to SPDR S&P MidCap 400
By Wendy Van Sickle
Columbus, Ohio, Oct. 31 – HSBC USA Inc. priced $3.74 million of 0% capped gears due Dec. 29, 2023 linked to the SPDR S&P MidCap 400 ETF trust, 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 return of par plus 25.35%.
Investors will be exposed to any losses.
UBS Financial Services Inc. and HSBC USA Inc. are the agents.
Issuer: | HSBC USA Inc.
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Issue: | Capped gears
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Underlying ETF: | SPDR S&P MidCap 400 ETF trust
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Amount: | $3,735,000
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Maturity: | Dec. 29, 2023
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus three times any ETF gain, capped at par plus 25.35%; 1% loss per 1% decline
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Initial level: | $436.13
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Pricing date: | Oct. 26
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Settlement date: | Oct. 31
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Agents: | UBS Financial Services Inc. and HSBC USA Inc.
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Fees: | 2%
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Cusip: | 40439N148
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