Published on 8/30/2022 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $18.36 million capped Leveraged Index Return Notes on Vanguard ETF
By William Gullotti
Buffalo, N.Y., Aug. 30 – HSBC USA Inc. priced $18.36 million of 0% capped Leveraged Index Return Notes due Aug. 30, 2024 linked to the Vanguard Total World Stock ETF, according to a 424B2 filed with the Securities and Exchange Commission.
If the ETF return is positive, the payout at maturity will be par of $10 plus 200% of the return, subject to a maximum payout of par plus 26.48%.
Investors will receive par if the ETF declines by 10% or less and will lose 1% for every 1% that it declines beyond 10%.
BofA Securities, Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Capped Leveraged Index Return Notes
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Underlying fund: | Vanguard Total World Stock ETF
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Amount: | $18,357,330
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Maturity: | Aug. 30, 2024
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 200% of any ETF gain, capped at par plus 26.48%; par if ETF declines by 10% or less; otherwise, 1% loss for every 1% that ETF declines beyond 10%
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Initial level: | $92.30
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Threshold level: | $83.07; 90% of initial level
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Pricing date: | Aug. 25
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Settlement date: | Sept. 1
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Agent: | BofA Securities, Inc.
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Fees: | 2%
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Cusip: | 40439N551
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