Published on 12/29/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $16.4 million Accelerated Return Notes linked to Energy SPDR ETF
By William Gullotti
Buffalo, N.Y., Dec. 29 – HSBC USA Inc. priced $16.4 million of 0% Accelerated Return Notes due Feb. 28, 2025 linked to the Energy Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus triple any ETF gain, up to a maximum payout of par plus 25.78%.
Investors will be fully exposed to any ETF decline.
BofA Securities, Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Accelerated Return Notes
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Underlying fund: | Energy Select Sector SPDR Fund
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Amount: | $16,359,220
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Maturity: | Feb. 28, 2025
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus triple any ETF gain, capped at par plus 25.78%; full exposure to any ETF decline
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Initial level: | $84.73
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Pricing date: | Dec. 21
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Settlement date: | Dec. 29
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Agent: | BofA Securities, Inc.
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Fees: | 1.75%
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Cusip: | 403954787
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