Published on 6/1/2022 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $15.85 million Accelerated Return Notes on index basket
By Wendy Van Sickle
Columbus, Ohio, June 1 – HSBC USA Inc. priced $15.85 million of 0% Accelerated Return Notes due July 28, 2023 linked to an index basket, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the Euro Stoxx 50 index with an initial weight of 40%, the FTSE 100 index and the Nikkei Stock Average index each with an initial weight of 20%, the Swiss Market index and the S&P/ASX 200 index each with an initial weight of 7.5% and the FTSE China 50 index with an initial weight of 5%.
The payout at maturity will be par of $10 plus triple any basket gain, up to a maximum payout of par plus 20.85%. Investors will be exposed to any basket decline.
BofA Securities, Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Accelerated Return Notes
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Underlying basket: | Euro Stoxx 50 (40% weight), FTSE 100 (20% weight), Nikkei Stock (20% weight), Swiss Market (7.5% weight), S&P/ASX 200 (7.5% weight), FTSE China 50 (5% weight)
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Amount: | $15,847,510
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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 300% of any basket gain, capped at par plus 20.85%; exposure to any basket decline
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Initial index levels: | 3,740.31 for Stoxx, 7,564.92 for FTSE 100, 26,604.84 for Nikkei, 11,647.17 for Swiss Market, 7,105.881 for S&P/ASX, 13,402.14 for FTSE China
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Final basket level: | Average of basket’s closing levels on five trading days ending July 25, 2023
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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: | 40390L552
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