Published on 2/6/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $1.69 million buffered PLUS tied to S&P 500
By William Gullotti
Buffalo, N.Y., Feb. 6 – HSBC USA Inc. priced $1.69 million of 0% buffered Performance Leveraged Upside Securities due May 9, 2024 linked to the S&P 500 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 17.45%. Investors will receive par if the index declines by 10% or less and will lose 1% for every 1% that it declines beyond 10%.
HSBC Securities (USA) Inc. is the agent with Morgan Stanley Wealth Management as distributor.
Issuer: | HSBC USA Inc.
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Issue: | Buffered Performance Leveraged Upside Securities
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Underlying index: | S&P 500 index
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Amount: | $1,685,000
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Maturity: | May 9, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the index return is positive, the payout at maturity will be par plus 200% of the index return, capped at 17.45%; investors will receive par if the index declines by 10% or less; otherwise, 1% loss for every 1% decline beyond 10%
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Initial level: | 4,179.76
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Buffer level: | 90% of initial level
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Pricing date: | Feb. 2
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Settlement date: | Feb. 9
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Agents: | HSBC Securities (USA) Inc. with Morgan Stanley Wealth Management as distributor
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Fees: | None
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Cusip: | 40441XL65
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