Published on 11/1/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $992,000 buffered market participation notes on S&P, Russell
By Kiku Steinfeld
Chicago, Nov. 1 – HSBC USA Inc. priced $992,000 of 0% buffered Market Participation Securities due Oct. 7, 2024 tied to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus any gain of the laggard index, capped at par plus 23.2%.
Investors will receive par if the laggard index falls by up to 25% and will lose 1% for each 1% decline of the laggard index beyond 25%.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Buffered Market Participation Securities
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Underlying indexes: | S&P 500 index, Russell 2000 index
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Amount: | $992,000
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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: | Par plus any gain in the laggard index up to par plus 23.2%; par if laggard index falls by up to 25%; otherwise, 1% loss for each 1% decline of laggard index beyond 25%
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Initial values: | 4,109.31 for S&P, 1,802.484 for Russell
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Buffer level: | 75% of initial value
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Pricing date: | March 31, 2023
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Settlement date: | April 5, 2023
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 0.5%
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Cusip: | 40441XV31
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