Published on 11/29/2022 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $64.27 million capped Leveraged Index Return Notes on S&P 500
By William Gullotti
Buffalo, N.Y., Nov. 29 – HSBC USA Inc. priced $64.27 million of 0% capped Leveraged Index Return Notes due Nov. 29, 2024 linked to the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par of $10 plus 200% of the index return, subject to a maximum payout of par plus 26.72%.
Investors will receive par if the index declines by 10% or less and will lose 1% for every 1% that it declines beyond 10%.
BofA Securities, Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Capped Leveraged Index Return Notes
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Underlying index: | S&P 500 index
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Amount: | $64,268,710
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Maturity: | Nov. 29, 2024
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 200% of any index gain, capped at par plus 26.72%; par if index declines by 10% or less; 1% loss for every 1% that index declines beyond 10%
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Initial level: | 4,003.58
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Threshold level: | 3,603.22; 90% of initial level
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Pricing date: | Nov. 22
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Settlement date: | Nov. 30
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Agent: | BofA Securities, Inc.
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Fees: | 2%
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Cusip: | 40439N221
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