According to Dictionary.com
So since Extract is a preparation of the fruit of such a plant it would likely qualify as capsicum for the purpose of labeling of a hot sauce.
capsicum
[kap-si-kuh m]
noun 1. any plant of the genus Capsicum, of the nightshade family, as C. annuum, the common pepper of the garden, occurring in many varieties.
2. the fruit of such a plant or some preparation of it, used as a condiment and intestinal stimulant.
So since Extract is a preparation of the fruit of such a plant it would likely qualify as capsicum for the purpose of labeling of a hot sauce.