Published on 2/17/2021 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $9.49 million capped Gears on S&P 500
By Taylor Fox
New York, Feb. 17 – HSBC USA Inc. priced $9.49 million of 0% capped Gears due March 31, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus triple any index gain, up to a maximum return of par plus14%.
Investors will be exposed to any losses.
UBS Financial Services Inc. and HSBC USA Inc. are the agents.
| Issuer: | HSBC USA Inc.
|
| Issue: | Capped Gears
|
| Underlying index: | S&P 500 index
|
| Amount: | $9,493,010
|
| Maturity: | March 31, 2022
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus three times any index gain, capped at par plus 14%; 1% loss per 1% decline
|
| Initial level: | 3,849.62
|
| Pricing date: | Jan. 26
|
| Settlement date: | Jan. 29
|
| Agents: | UBS Financial Services Inc. and HSBC USA Inc.
|
| Fees: | 2%
|
| Cusip: | 40438U309
|
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