Published on 9/8/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $7.2 million capped leveraged buffered index-linked notes on S&P 500
By William Gullotti
Buffalo, N.Y., Sept. 8 – HSBC USA Inc. priced $7.2 million of 0% capped leveraged buffered index-linked notes due Sept. 17, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus 200% of the index gain, capped at par plus 25.12%.
Investors will receive par if the index declines by 15% or less and will lose 1.1765% for every 1% that it declines beyond 15%.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Capped leveraged buffered index-linked notes
|
| Underlying index: | S&P 500 index
|
| Amount: | $7,197,000
|
| Maturity: | Sept. 17, 2025
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 200% of any index gain, capped at par plus 25.12%; par if index declines by 15% or less; 1.1765% loss for every 1% that index declines beyond 15%
|
| Initial level: | 4,515.77
|
| Buffer level: | 85% of initial level
|
| Pricing date: | Sept. 1
|
| Settlement date: | Sept. 11
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | None
|
| Cusip: | 40442B3M7
|
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