Published on 6/9/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $588,000 buffered PLUS linked to S&P 500 index
By Angela McDaniels
Tacoma, Wash., June 9 – HSBC USA Inc. priced $588,000 of 0% buffered PLUS due Sept. 7, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level is greater than the initial index level, the payout at maturity will be par plus 200% of the index return, subject to a maximum return of 18.15%. Investors will receive par if the index declines by up to 10% and will lose 1% for every 1% that the index declines beyond 10%.
HSBC Securities (USA) Inc. is the agent. Morgan Stanley Wealth Management is distributor.
Issuer: | HSBC USA Inc.
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Issue: | Buffered PLUS
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Underlying index: | S&P 500 index
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Amount: | $588,000
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Maturity: | Sept. 7, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If final index level is greater than initial index level, par plus 200% of index return, subject to maximum return of 18.15%; par if index declines by up to 10%; 1% loss for every 1% that index declines beyond 10%
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Initial level: | 3,818.8
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Buffer level: | 90% of initial level
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Pricing date: | July 12, 2022
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Settlement date: | July 19, 2022
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Agent: | HSBC Securities (USA) Inc.
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Distributor: | Morgan Stanley Wealth Management
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Fees: | 0%
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Cusip: | 40441XEP1
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