Published on 12/10/2019 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $8.11 million market-linked step-up notes linked to S&P 500
By Sarah Lizee
Olympia, Wash., Dec. 10 – HSBC USA Inc. priced $8.11 million of 0% market-linked step-up notes due Nov. 19, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange.
If the index finishes above the step-up level – 110.3% of the initial level – the payout at maturity will be par of $10 plus the index gain.
If the index gains by up to the step-up level, the payout will be par plus the step-up payment of 10.3%.
Investors will be exposed to any losses.
BofA Securities, Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Market-linked step-up notes
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Underlying index: | S&P 500
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Amount: | $8,110,210
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Maturity: | Nov. 19, 2021
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If the index finishes above the step-up level, par plus the index gain; if the index gains by up to the step-up level, par plus 10.3%; full exposure to any losses
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Initial level: | 3,140.52
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Step-up level: | 3,463.99, 110.3% of initial level
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Pricing date: | Nov. 26
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Settlement date: | Dec. 4
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Agent: | BofA Securities, Inc.
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Fees: | 2%
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Cusip: | 40438B731
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