New Issue: HSBC sells $2.23 million buffered accelerated market participation notes on S&P Biotech

By Kiku Steinfeld

Chicago, Oct. 2 – HSBC USA Inc. priced $2.23 million of 0% buffered accelerated market participation securities due Oct. 2, 2023 linked to the SPDR S&P Biotech ETF, according to a 424B2 filing with the Securities and Exchange Commission.

If the ETF return is positive, the payout at maturity will be par plus 150% of the ETF return, capped at par plus 34%.

Investors will receive par if the ETF falls by 15% or less and will lose 1% for every 1% decline beyond the 15% buffer.

HSBC USA Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Buffered accelerated market participation securities
Underlying ETF:	SPDR S&P Biotech ETF
Amount:	$2,232,000
Maturity:	Oct. 2, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	If ETF return is positive, par plus 150% of ETF return, capped at par plus 34%; par if ETF declines by 15% or less; 1% loss for every 1% ETF declines beyond 15% buffer
Initial ETF level:	$110.81
Buffer level:	85% of initial level
Pricing date:	Sept. 25
Settlement date:	Sept. 30
Underwriter:	HSBC Securities (USA) Inc.
Fees:	2.5%
Cusip:	40438CVG3

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.