Published on 11/29/2022 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $5.45 million Strategic Accelerated Redemption Securities on S&P
By William Gullotti
Buffalo, N.Y., Nov. 29 – HSBC USA Inc. priced $5.45 million Strategic Accelerated Redemption Securities due Dec. 1, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at an annualized call premium of 17.1% if the closing level of the index is greater than or equal to its initial level on any quarterly observation date after six months.
If the notes are not called, investors lose 1% for each 1% decline in the index.
BofA Securities, Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Strategic Accelerated Redemption Securities
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Underlying index: | S&P 500
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Amount: | $5,448,990
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Maturity: | Dec. 1, 2023
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Full exposure to loss
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Call: | At par plus 17.1% annualized if the closing level of the index is greater than or equal to its initial value on any quarterly observation date after six months
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Initial level: | 4,003.58
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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: | 1.25%
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Cusip: | 40441B884
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