Published on 11/14/2019 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $1.1 million buffer gears linked to index basket
By Wendy Van Sickle
Columbus, Ohio, Nov. 14 – HSBC USA Inc. priced $1.1 million of 0% buffer gears due Nov. 14, 202 linked to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes the Euro Stoxx 50 index with a 40% weight, the FTSE 100 index with a 20% weight, the Nikkei 225 index with a 20% weight, the Swiss Market index with a 7.5% weight, the S&P/ASX 200 index with a 7.5% weight and the Hang Seng index with a 5% weight.
If the basket return is greater than zero, the payout at maturity will be par of $10 plus 1.58 times the basket return. Investors will receive par if the basket declines by 30% or less and will lose 1% for every 1% that the basket declines beyond 30%.
UBS Financial Services Inc. and HSBC Securities (USA) Inc. are the agents.
Issuer: | HSBC USA Inc.
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Issue: | Buffer gears
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Underlying basket: | Euro Stoxx 50 (40% weight), FTSE 100 (20% weight), Nikkei 225 (20% weight), Swiss Market (7.5% weight), S&P/ASX 200 (7.5% weight) and Hang Seng (5% weight)
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Amount: | $1.1 million
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Maturity: | Nov. 14, 2023
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Coupon: | 0%
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Price: | Par of $10
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Initial level: | 3,699.65 for Stoxxx, 7,359.38 for FTSE, 23,391.87 for Nikkei, 10,309.23 for Swiss, 6,724.111 for S&P/ASX, 27,651.14 for Hang Seng
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Payout at maturity: | If basket return is greater than zero, par plus 1.58 times basket return; par if basket declines by 30% or less; 1% loss for every 1% that basket declines beyond 30%
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Pricing date: | Nov. 8
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Settlement date: | Nov. 14
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Agents: | UBS Financial Services Inc. and HSBC Securities (USA) Inc.
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Fees: | 0%
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Cusip: | 40438B541
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