Published on 10/21/2022 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $1.24 million capped gears linked to Russell 2000
By William Gullotti
Buffalo, N.Y., Oct. 21 – HSBC USA Inc. priced $1.24 million of 0% capped gears due Nov. 24, 2023 linked to the Russell 2000 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 plus 25.2%.
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: | Russell 2000 index
|
| Amount: | $1,242,200
|
| Maturity: | Nov. 24, 2023
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus three times any index gain, capped at par plus 25.2%; 1% loss per 1% decline
|
| Initial level: | 1,812.843
|
| Pricing date: | Sept. 19
|
| Settlement date: | Sept. 22
|
| Agents: | UBS Financial Services Inc. and HSBC USA Inc.
|
| Fees: | 2%
|
| Cusip: | 40439N312
|
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