Published on 10/2/2019 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $1.51 million capped buffer gears linked to Russell
By Kiku Steinfeld
Chicago, Oct. 2 – HSBC USA Inc. priced $1.51 million of 0% capped buffer gears due Aug. 31, 2021 linked to 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 2 times any index gain, capped at par plus 17.14%.
Investors will receive par if the index finishes flat or falls by up to 10% of initial level and will lose 1% for every 1% decline beyond 10%.
UBS Financial Services Inc. is the agent and HSBC Securities (USA) Inc. is the distributor.
Issuer: | HSBC USA Inc.
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Issue: | Capped buffer gears
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Underlying index: | Russell 2000 index
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Amount: | $1,506,300
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Maturity: | Aug. 31, 2021
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 2 times any index gain, capped at par plus 17.4%; par if index finishes flat or falls by up to 10% of initial levels; 1% loss for every 1% decline beyond 10%
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Initial level: | 1,456.039
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Downside threshold: | 1,310.435, 90% of initial level
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Pricing date: | Aug. 27
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Settlement date: | Aug. 30
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Agent: | UBS Financial Services Inc.
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Distributor: | HSBC Securities (USA) Inc
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Fees: | 2%
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Cusip: | 40436B329
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