Published on 11/23/2022 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $10.23 million leveraged capped notes on Russell 2000
By Wendy Van Sickle
Columbus, Ohio, Nov. 23 – HSBC USA Inc. priced $10.23 million of 0% leveraged capped index-linked notes due Feb. 5, 2024 linked to the Russell 2000 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 triple the index gain, subject to a maximum payout of $1,297 per $1,000 principal amount.
Investors will lose 1% for every 1% decline from initial index level.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Leveraged capped index-linked notes
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Underlying index: | Russell 2000
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Amount: | $10,225,000
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Maturity: | Feb. 5, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus three times any index gain, capped at par plus 29.7%; 1% loss for every 1% decline from initial level
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Initial level: | 1,839.141
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Pricing date: | Nov. 21
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Settlement date: | Nov. 29
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 1.21%
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Cusip: | 40441XVJ6
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