Published on 6/28/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $5.49 million digital index-linked notes on S&P 500
By William Gullotti
Buffalo, N.Y., June 28 – HSBC USA Inc. priced $5.49 million of 0% digital index-linked notes due April 23, 2025 tied to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above 85% of its initial level, the payout at maturity will be $1,169.30 per $1,000 principal amount of notes.
Otherwise, investors will lose 1.1765% for each 1% decline of the index beyond the 15% buffer.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Digital index-linked notes
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Underlying index: | S&P 500 index
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Amount: | $5,485,000
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Maturity: | April 23, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the index gains or falls by not more than 15%, par plus 16.93%; otherwise, 1.1765% loss for each 1% decline of the index beyond 15%
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Initial level: | 4,381.89
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Downside threshold: | 85% of initial level
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Pricing date: | June 22
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Settlement date: | June 29
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Agent: | HSBC Securities (USA) Inc.
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Fees: | None
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Cusip: | 40442B2P1
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