Published on 3/6/2024 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $1.5 million Buffered PLUS linked to S&P 500
New York, March 6 – HSBC USA Inc. priced $1.5 million of 0% Buffered PLUS due May 22, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the return of the index is positive, the payout at maturity will be par plus 200% of the index return, subject to a maximum return of par plus 15.5%.
Investors will receive par if the index declines by 10% or less and will lose 1% for every 1% that it declines beyond 10%.
HSBC Securities is the agent. Morgan Stanley Wealth Management will act as placement agent.
Issuer: | HSBC USA Inc.
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Issue: | Buffered PLUS
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Underlying index: | S&P 500 index
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Amount: | $1,495,000
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Maturity: | May 22, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index gains, par plus 200% of index return, subject to a maximum return of par plus 15.5%; par if index declines by 10% or less; otherwise, 1% loss for every 1% that index declines beyond 10%
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Initial level: | 4,953.17
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Buffer: | 10%
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Upside leverage: | 200%
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Cap: | 15.5%
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Strike date: | Feb. 13
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Pricing date: | Feb. 20
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Settlement date: | Feb. 23
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Agent: | HSBC Securities
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Distributor: | Morgan Stanley Wealth Management
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Fees: | 0%
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Cusip: | 40447AC28
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