Published on 3/25/2024 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $3.24 million buffered accelerated market participation securities on S&P
New York, March 25 – HSBC USA Inc. priced $3.24 million of 0% buffered accelerated market participation securities due June 20, 2025 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 200% of the index return, subject to a maximum return of par plus 15%.
Investors will receive par if the index declines by no more than 10% and will lose 1% for every 1% that the index declines beyond 10%.
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: | $3,236,000
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Maturity: | June 20, 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%; par if index declines by no more than 10%; otherwise, lose 1% for every 1% that the index declines beyond 10%
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Initial level: | 5,117.09
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Buffer: | 10%
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Pricing date: | March 15
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Settlement date: | March 20
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 0%
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Cusip: | 40447AP24
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