Published on 7/11/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $339,000 buffered accelerated market participation securities on S&P
By Emma Trincal
New York, July 11 – HSBC USA Inc. priced $339,000 of 0% buffered accelerated market participation securities due Oct. 7, 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 150% the index return, capped at par plus 13.5%.
Investors will receive par if the index falls by 15% or less and will lose 1% for every 1% decline beyond the 15% buffer.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Buffered accelerated market participation securities
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Underlying index: | S&P 500 index
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Amount: | $339,000
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Maturity: | Oct. 7, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index return is positive, par plus 150% the index return, capped at par plus 13.5%; par if index declines by 15% or less; 1% loss for every 1% index declines beyond 15% buffer
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Initial index level: | 4,450.38
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Buffer level: | 85% of initial level
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Pricing date: | June 30
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Settlement date: | July 6
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 0.5%
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Cusip: | 40447ACJ1
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