Published on 8/31/2021 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $5.59 million market-linked step-up notes linked to Euro Stoxx 50
By William Gullotti
Buffalo, N.Y., Aug. 31 – HSBC USA Inc. priced $5.59 million of 0% market-linked step-up notes due Feb. 29, 2024 tied to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes above the step-up value, 122.7% of the initial level, the payout at maturity will be par plus the index gain.
If the index finishes at or below the step-up level but at or above the initial level, the payout will be par plus the step-up payment of 22.7%.
Investors will be fully exposed to any index decline.
BofA Securities, Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Market-linked step-up notes
|
| Underlying index: | Euro Stoxx 50
|
| Amount: | $5,590,560
|
| Maturity: | Feb. 29, 2024
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If the index finishes above the step-up value, par plus the index gain; if the index finishes at or below the step-up level but at or above the initial level, par plus 22.7%; otherwise, lose 1% for every 1% decline of the index from its initial level
|
| Initial index level: | 4,169.87
|
| Step-up value: | 5,116.43; 122.7% of initial value
|
| Pricing date: | Aug. 26
|
| Settlement date: | Sept. 3
|
| Agent: | BofA Securities, Inc.
|
| Fees: | 2%
|
| Cusip: | 40439K482
|
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