Published on 3/25/2015 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $111,000 leveraged buffered notes linked to index basket
By Angela McDaniels
Tacoma, Wash., March 25 – HSBC USA Inc. priced $111,000 of 0% buffered uncapped market participation securities due March 27, 2020 linked to an equally weighted basket consisting of the S&P 500 index, the Euro Stoxx 50 index and the Hang Seng China Enterprises index, according to a 424B2 filing with the Securities and Exchange Commission.
If the basket return is greater than zero, the payout at maturity will be par plus 120% of the basket return. Investors will receive par if the index falls by 15% or less and will lose 1% for every 1% that the index declines beyond 15%.
HSBC Securities (USA) Inc. is the underwriter.
Issuer: | HSBC USA Inc.
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Issue: | Buffered uncapped market participation securities
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Underlying indexes: | S&P 500, Euro Stoxx 50 and Hang Seng China Enterprises, equally weighted
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Amount: | $111,000
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Maturity: | March 27, 2020
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 120% of any basket gain; par if basket falls by up to 15%; 1% loss for every 1% that basket declines beyond 15%
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Initial index levels: | 2,091.50 for S&P 500, 3,731.35 for Russell 200 and 12,005.02 for Hang Seng China Enterprises
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Trade date: | March 23
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Pricing date: | March 24
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Settlement date: | March 27
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Underwriter: | HSBC Securities (USA) Inc.
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Fees: | 3.5%
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Cusip: | 40433BB98
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