Published on 8/18/2022 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $1.71 million buffered market participation notes on S&P, Dow
By William Gullotti
Buffalo, N.Y., Aug. 18 – HSBC USA Inc. priced $1.71 million of 0% buffered Market Participation Securities due Sept. 18, 2023 tied to the lesser performing of the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus any gain of the laggard index, capped at par plus 19%.
Investors will receive par if the laggard index falls by up to 15% and will lose 1% for each 1% decline of the laggard index beyond 15%.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
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| Issue: | Buffered Market Participation Securities
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| Underlying indexes: | S&P 500 index, Dow Jones industrial average
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| Amount: | $1,705,000
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| Maturity: | Sept. 18, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus any gain in the laggard index up to par plus 19%; par if laggard index falls by up to 15%; otherwise, 1% loss for each 1% decline of laggard index beyond 15%
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| Initial values: | 4,297.14 for S&P, 33,912.44 for Dow
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| Buffer level: | 85% of initial value
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| Pricing date: | Aug. 15
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| Settlement date: | Aug. 18
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| Agent: | HSBC Securities (USA) Inc.
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| Fees: | None
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| Cusip: | 40441XHQ6
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