New Issue: HSBC sells $2.59 million capped notes with absolute return buffer linked to Tesla

By Wendy Van Sickle

Columbus, Ohio, April 16 – HSBC Bank plc priced $2.59 million of 0% capped notes with absolute return buffer due April 25, 2025 linked to the shares of Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par of $10 plus any stock gain, subject to a maximum payout of par plus 28.4%.

If the stock finishes flat or falls by up to 20%, investors will receive par plus the absolute value of the stock return. Otherwise, investors will be exposed to any losses beyond 20%.

BofA Securities, Inc. is the agent.

Issuer:	HSBC Bank plc
Issue:	Capped notes with absolute return buffer
Underlying stock:	Tesla, Inc.
Amount:	$2,594,800
Maturity:	April 25, 2025
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus any stock gain, capped at 28.4%; if stock falls by up to 20%, par plus absolute value of stock return; otherwise, 1% loss for every 1% decline beyond 20%
Initial value:	$172.49
Threshold value:	$137.99; 80% of initial value
Pricing date:	April 11
Settlement date:	April 18
Agent:	BofA Securities, Inc.
Fees:	1.5%
Cusip:	40438G748

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