Published on 1/8/2024 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $813,000 0% buffered AMPS linked to S&P 500
By Kiku Steinfeld
Chicago, Jan. 8 – HSBC USA Inc. priced $813,000 of 0% buffered accelerated market participation securities due July 29, 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 11.5%. Investors will receive par if the index declines but ends above the 15% buffer and will lose 1% for every 1% that the index 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 index: | S&P 500 index
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Amount: | $813,000
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Maturity: | July 29, 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 11.5%; par if index declines but finishes above the 15% buffer; otherwise exposure to decline in index beyond buffer
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Upside leverage: | 150%
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Cap: | 11.5%
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Initial level: | 4,071.63
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Buffer: | 15%
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Call: | Non-callable
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Pricing date: | April 25, 2023
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Settlement date: | April 28, 2023
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 2%
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Cusip: | 40441X2R0
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