Published on 1/4/2021 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $5.86 million Accelerated Return Notes on Gold Miners ETF
By Marisa Wong
Los Angeles, Jan. 4 – HSBC USA Inc. priced $5.86 million of 0% Accelerated Return Notes due Jan. 28, 2022 linked to the VanEck Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus 300% of any increase in the ETF, capped at par plus 37.8%. Investors will be exposed to any decline in the ETF’s share price.
BofA Securities, Inc. is the underwriter.
| Issuer: | HSBC USA Inc.
|
| Issue: | Accelerated Return Notes
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| Underlying ETF: | VanEck Vectors Gold Miners ETF
|
| Amount: | $5,862,670
|
| Maturity: | Jan. 28, 2022
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| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus 300% of any increase in ETF, capped at par plus 37.8%; exposure to any ETF decline
|
| Initial share price: | $33.42
|
| Final share price: | Average of closing share prices on five trading days ending Jan. 25, 2022
|
| Pricing date: | Nov. 24
|
| Settlement date: | Dec. 2
|
| Underwriter: | BofA Securities, Inc.
|
| Fees: | 1.75%
|
| Cusip: | 40438Q688
|
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