Published on 4/7/2024 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $2.45 million buffered market participation notes on S&P, Russell
By William Gullotti
Buffalo, N.Y., April 8 – HSBC USA Inc. priced $2.45 million of 0% buffered Market Participation Securities due Oct. 1, 2025 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 41.95%.
Investors will receive par if the laggard index falls by up to 20% and will lose 1% for each 1% decline of the laggard index beyond 20%.
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: | $2,449,000
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Maturity: | Oct. 1, 2025
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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 41.95%; par if laggard index falls by up to 20%; otherwise, 1% loss for each 1% decline of laggard index beyond 20%
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Initial values: | 5,203.58 for S&P, 2,070.163 for Russell
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Buffer levels: | 80% of initial values
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Pricing date: | March 26
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Settlement date: | April 1
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 0.5%
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Cusip: | 40447AF74
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