Published on 8/2/2021 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $8.28 million capped gears on Russell 2000
By William Gullotti
Buffalo, N.Y., Aug. 2 – HSBC USA Inc. priced $8.28 million of 0% capped gears due Sept. 30, 2022 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 triple any index gain, up to a maximum return of par plus 15.7%.
Investors will be exposed to any losses.
UBS Financial Services Inc. and HSBC USA Inc. are the agents.
| Issuer: | HSBC USA Inc.
|
| Issue: | Capped gears
|
| Underlying index: | Russell 2000 index
|
| Amount: | $8,282,310
|
| Maturity: | Sept. 30, 2022
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus three times any index gain, capped at par plus 15.7%; 1% loss per 1% decline
|
| Initial level: | 2,191.833
|
| Pricing date: | July 27
|
| Settlement date: | July 30
|
| Agents: | UBS Financial Services Inc. and HSBC USA Inc.
|
| Fees: | 2%
|
| Cusip: | 40439K664
|
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