Published on 10/2/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $220,000 buffered accelerated market participation securities on gold ETF
Chicago, Oct. 2 – HSBC USA Inc. priced $220,000 of 0% buffered accelerated market participation securities due Sept. 30, 2024 linked to the VanEck Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF gains the payout at maturity will be par plus 200% of the ETF return subject to a maximum return of par plus 42.45%. Investors will receive par if the ETF declines but ends above the 15% buffer and will lose 1% for every 1% that the ETF declines beyond the 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 ETF: | VanEck Vectors Gold Miners ETF
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Amount: | $220,000
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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 ETF gains, par plus 200% of ETF return subject to a maximum return of par plus 42.45%; par if ETF declines but finishes above the 15% buffer; otherwise, exposure to decline in ETF beyond buffer
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Call: | Non-callable
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Initial level: | $22.00
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Buffer level: | 85% of initial level
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Upside leverage: | 200%
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Cap: | 42.45%
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Buffer: | 15%
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Pricing date: | Sept. 27, 2022
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Settlement date: | Sept. 30, 2022
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 2.25%
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Cusip: | 40441XLB4
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