Published on 7/10/2018 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $1.35 million capped buffer gears tied to Russell 2000
By Marisa Wong
Morgantown, W.Va., July 10 – HSBC USA Inc. priced $1.35 million of 0% capped buffer gears due Dec. 31, 2019 linked to the lesser performing of the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus double any index gain, up to a maximum return of 15.1%.
Investors will receive par if the index falls by up to 10% and lose 1% for every 1% decline beyond 10%.
HSBC Securities (USA) Inc. and UBS Financial Services Inc. are the agents.
Issuer: | HSBC USA Inc.
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Issue: | Capped buffer gears
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Underlying index: | Russell 2000
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Amount: | $1,349,000
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Maturity: | Dec. 31, 2019
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus double any index gain, capped at 15.1%; par if the index falls by up to 10%; 1% loss for every 1% decline beyond 10%
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Initial level: | 1,668.527
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Downside threshold: | 1,501.674, 90% of initial level
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Pricing date: | June 26
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Settlement date: | June 29
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Agents: | HSBC Securities (USA) Inc. and UBS Financial Services Inc.
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Fees: | None
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Cusip: | 40435X207
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