By Wendy Van Sickle
Columbus, Ohio, July 31 – HSBC Bank plc priced $3.09 million of 0% capped leveraged buffered index-linked notes due Sept. 8, 2025 linked to the S&P 500 index, according to an amended 424B2 filing with the Securities and Exchange Commission.
HSBC initially reported a larger issue size of $3.15 million, as reported by Prospect News.
If the index return is positive, the payout at maturity will be par plus 200% of the index gain, capped at par plus 25.76%.
Investors will receive par if the index declines by 15% or less and will lose 1.1765% for every 1% that it declines beyond 15%.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC Bank plc
|
| Issue: | Capped leveraged buffered index-linked notes
|
| Underlying index: | S&P 500 index
|
| Amount: | $3,088,000
|
| Maturity: | Sept. 8, 2025
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 200% of any index gain, capped at par plus 25.76%; par if index declines by 15% or less; otherwise, 1.1765% loss for every 1% that index declines beyond 15%
|
| Initial level: | 4,536.34
|
| Buffer level: | 90% of initial level
|
| Pricing date: | July 21
|
| Settlement date: | July 28
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | None
|
| Cusip: | 40442B2Y2
|
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