Published on 5/4/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $174,000 Bumps linked to S&P 500, Russell 2000
By Angela McDaniels
Tacoma, Wash., May 4 – HSBC USA Inc. priced $174,000 of 0% Buffered Uncapped Market Participation Securities due Dec. 3, 2024 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the lesser-performing index’s final level is greater than its initial level, the payout at maturity will be par plus 126.25% of the lesser-performing index’s return. If the lesser-performing index’s final level is less than its initial level but greater than or equal to 95% of its initial level, the payout will be par. Otherwise, investors will lose 1% for every 1% that the lesser-performing index declines beyond 5%.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Buffered Uncapped Market Participation Securities
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Underlying indexes: | S&P 500 index and Russell 2000 index
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Amount: | $174,000
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Maturity: | Dec. 3, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If lesser-performing index’s final level is greater than initial level, par plus 126.25% of lesser-performing index’s return; if lesser-performing index’s final level is less than initial level but greater than or equal to buffer level, par; otherwise, 1% loss for every 1% that lesser-performing index declines beyond 5%
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Initial levels: | 4,132.15 for S&P and 1,864.043 for Russell
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Buffer levels: | 95% of initial levels
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Pricing date: | May 31, 2022
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Settlement date: | June 3, 2022
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 0%
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Cusip: | 40439J2N4
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