Published on 8/11/2020 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $1.24 million buffered AMPS linked to S&P 500
By Kiku Steinfeld
Chicago, Aug. 11 – HSBC USA Inc. priced $1.24 million of 0% buffered accelerated market participation securities due Jan. 31, 2022 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 150% of the index return, capped at par plus 11.6%.
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: | $1,243,000
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Maturity: | Jan. 31, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the index return is positive, par plus 150% of the index return, capped at par plus 11.6%; par if the index falls by 10% or less; 1% loss for every 1% decline beyond the 10% buffer
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Initial index level: | 3,218.44
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Pricing date: | July 28
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Settlement date: | July 31
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Underwriter: | HSBC Securities (USA) Inc.
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Fees: | 1.5%
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Cusip: | 40438CNK3
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