Published on 7/13/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $1.1 million buffered accelerated market participation securities on S&P
New York, July 13 – HSBC USA Inc. priced $1.1 million of 0% buffered accelerated market participation securities due Sept. 30, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index gains, the payout at maturity will be par plus 150% of the index return, subject to a maximum return of par plus 10.5%.
Investors will receive par if the index declines by no more than 15% and will lose 1% for every 1% that the index declines beyond 15%.
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: | $1,096,000
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Maturity: | Sept. 30, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index gains, par plus 150% of index return, subject to a maximum return of par plus 10.5%; par if index declines by no more than 15%; otherwise, lose 1% for every 1% that the index declines beyond 15%
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Initial level: | 4,378.41
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Buffer: | 15%
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Pricing date: | June 27
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Settlement date: | June 30
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 2%
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Cusip: | 40447ABU7
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