Published on 11/29/2022 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $23.75 million Accelerated Return Notes on Russell 2000
By William Gullotti
Buffalo, N.Y., Nov. 29 – HSBC USA Inc. priced $23.75 million of 0% Accelerated Return Notes due Jan. 26, 2024 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 payout of par plus 25.21%.
Investors will be exposed to any index decline.
BofA Securities, Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Accelerated Return Notes
|
| Underlying index: | Russell 2000 index
|
| Amount: | $23,745,430
|
| Maturity: | Jan. 26, 2024
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| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus triple any index gain, capped at par plus 25.21%; full exposure to any index decline
|
| Initial level: | 1,860.441
|
| Pricing date: | Nov. 22
|
| Settlement date: | Nov. 30
|
| Agent: | BofA Securities, Inc.
|
| Fees: | 1.75%
|
| Cusip: | 40441B876
|
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