Published on 5/31/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $12.52 million Accelerated Return Notes linked to SPDR Gold Shares
By William Gullotti
Buffalo, N.Y., May 31 – HSBC USA Inc. priced $12.52 million of 0% Accelerated Return Notes due July 26, 2024 linked to the SPDR Gold Shares, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus triple any ETF gain, up to a maximum payout of par plus 18.5%.
Investors will be fully exposed to any ETF decline.
BofA Securities, Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Accelerated Return Notes
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Underlying fund: | SPDR Gold Shares
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Amount: | $12,522,890
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Maturity: | July 26, 2024
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus triple any ETF gain, capped at par plus 18.5%; full exposure to any ETF decline
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Initial level: | $180.20
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Pricing date: | May 25
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Settlement date: | June 2
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Agent: | BofA Securities, Inc.
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Fees: | 1.75%
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Cusip: | 40443B866
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