Published on 5/31/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $14.94 million Strategic Accelerated Redemption Securities on S&P
By William Gullotti
Buffalo, N.Y., May 31 – HSBC USA Inc. priced $14.94 million Strategic Accelerated Redemption Securities due May 25, 2029 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 10% if the closing level of the index is greater than or equal to its initial level on any annual determination date.
If the notes are not called at maturity, investors lose 1% for each 1% decline in the index.
BofA Securities, Inc. is the agent.
Issuer: | HSBC USA Inc.
|
Issue: | Strategic Accelerated Redemption Securities
|
Underlying index: | S&P 500 index
|
Amount: | $14,941,960
|
Maturity: | May 25, 2029
|
Coupon: | 0%
|
Price: | Par of $10
|
Payout at maturity: | Full exposure to loss
|
Call: | At par plus 10% annualized if the closing level of the index is greater than or equal to its initial value on any annual determination date
|
Initial level: | 4,151.28
|
Pricing date: | May 25
|
Settlement date: | June 2
|
Agent: | BofA Securities, Inc.
|
Fees: | 2%
|
Cusip: | 40443B700
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.