Published on 11/1/2020 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $287,000 buffered accelerated market participation notes on S&P
By Taylor Fox
New York, Nov. 2 – HSBC USA Inc. priced $287,000 of 0% buffered accelerated market participation securities due March 30, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus 200% of the index return, capped at par plus 15%.
Investors will receive par if the index falls by 10% or less and will lose 1% for every 1% decline beyond the 10% buffer.
HSBC USA Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Buffered accelerated market participation securities
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Underlying index: | S&P 500
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Amount: | $287,000
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Maturity: | March 30, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index return is positive, par plus 200% of index return, capped at par plus 15%; par if index declines by 10% or less; 1% loss for every 1% index declines beyond 10% buffer
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Initial index level: | 3,298.46 for S&P
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Buffer level: | 90% of initial level
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Pricing date: | Sept. 25
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Settlement date: | Sept. 30
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Underwriter: | HSBC Securities (USA) Inc.
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Fees: | 2.25%
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Cusip: | 40438CUX7
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