Published on 6/1/2021 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $25.24 million Accelerated Return Notes on financial stock basket
By Wendy Van Sickle
Columbus, Ohio, June 1 – HSBC USA Inc. priced $25.24 million of 0% Accelerated Return Notes due June 29, 2022 tied to an equally weighted basket of stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the common stocks of Goldman Sachs Group, Inc., JPMorgan Chase & Co. and Morgan Stanley.
The payout at maturity will be par of $10 plus triple any basket gain, up to a maximum return of 22.89%.
Investors will be exposed to any losses.
BofA Securities, Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Accelerated Return Notes
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Basket components: | Goldman Sachs Group, Inc., JPMorgan Chase & Co. and Morgan Stanley, equal weights
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Amount: | $25,235,000
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Maturity: | June 29, 2022
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus triple any basket gain, capped at 22.89%; 1% loss for each 1% decline
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Initial index levels: | $371.37 for Goldman, $164.35 for JPMorgan and $90.30 for Morgan Stanley
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Pricing date: | May 27
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Settlement date: | June 4
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Agent: | BofA Securities, Inc.
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Fees: | 1.75%
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Cusip: | 40438U168
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