Published on 6/12/2019 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $2 million buffered AMPS tied to S&P, Russell
By Kiku Steinfeld
Chicago, June 12 – HSBC USA, Inc. priced $2 million of 0% Buffered Accelerated Market Participation Securities due Aug. 23, 2023 linked to the lowest performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index return finishes above 87% of its initial value, the payout at maturity will be 1.3 times the return of the lesser performing index plus 13%, up to a cap of par plus 52%
Otherwise, investors will lose 1% for every 1% that the lesser-performing index declines beyond 13%.
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 indexes: | S&P 500 and Russell 2000
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Amount: | $2,000,000
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Maturity: | Aug. 23, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index return finishes above 87% of initial value, 1.3 times the return of lesser performing index plus 13%, to a cap of 52%; otherwise, investors will lose 1% for every 1% beyond 13%
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Initial levels: | 2,752.06 for S&P and 1,465.487 for Russell
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Buffer levels: | 2,339.251 for S&P and 1,245.66395 for Russell; 85% of initial levels
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Pricing date: | May 23
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Settlement date: | May 29
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Underwriter: | HSBC Securities (USA) Inc.
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Fees: | 0.75%
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Cusip: | 40435UNZ3
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