Published on 6/1/2022 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $18.04 million Accelerated Return Notes linked to basket of three stocks
By Wendy Van Sickle
Columbus, Ohio, June 1 – HSBC USA Inc. priced $18.04 million of 0% Accelerated Return Notes due July 28, 2023 linked to a stock basket, according to a 424B2 filing with the Securities and Exchange Commission.
The approximately equally weighted basket consists of Goldman Sachs Group, Inc., JPMorgan Chase & Co. and Morgan Stanley.
The payout at maturity will be par of $10 plus triple any basket gain, up to a maximum return of 29.15%. Investors will be exposed to any basket decline.
BofA Securities, Inc. is the underwriter.
Issuer: | HSBC USA Inc.
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Issue: | Accelerated Return Notes
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Underlying stocks: | Goldman Sachs Group, Inc. (Symbol: GS) with a 33.34% weight, JPMorgan Chase & Co. (Symbol: JPM) with a 33.33% weight and Morgan Stanley (Symbol: MS) with a 33.33% weight
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Amount: | $18,038,870
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Maturity: | July 28, 2023
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus triple any basket gain, up to a maximum return of 29.15%; lose 1% for every 1% of basket decline from initial level
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Initial stock levels: | $323.63 for Goldman, $129.44 for JPMorgan, $85.00 for Morgan Stanley
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Pricing date: | May 26
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Settlement date: | June 3
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Underwriter: | BofA Securities, Inc.
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Fees: | 1.75%
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Cusip: | 40390L537
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