Published on 8/10/2021 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $4.12 million trigger PLUS notes due 2027 on S&P, Russell
By Taylor Fox
New York, Aug. 10 – HSBC USA Inc. priced $4.12 million of 0% trigger Performance Leveraged Upside Securities due Feb. 8, 2027 linked to the worst performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 135.75% of any gain in the worst performing index.
Investors will receive par if the worst performing index falls by up to 30% and will lose 1% for each 1% decline of that laggard index from its initial level if the index drops below the 70% trigger level.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Trigger Performance Leveraged Upside Securities
|
| Underlying indexes: | S&P 500 and Russell 2000 index
|
| Amount: | $4,115,000
|
| Maturity: | Feb. 8, 2027
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If final level of each is greater than initial index level, par plus 135.75% of lesser-performing index return; if lesser-performing index falls by up to trigger level, par; otherwise, full exposure to loss of lesser-performing index
|
| Initial index levels: | 3,830.17 for S&P, 2,159.703 for Russell
|
| Trigger levels: | 2,681.119 for S&P, 1,511.7921 for Russell, 70% of initial levels
|
| Pricing date: | Feb. 3
|
| Settlement date: | Feb. 8
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 3.5%
|
| Cusip: | 40438U861
|
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