New Issue: HSBC prices $92.53 million Accelerated Return Notes on S&P 500

By William Gullotti

Buffalo, N.Y., May 31 – HSBC USA Inc. priced $92.53 million of 0% Accelerated Return Notes due July 26, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

HSBC sold 9,253,352 units with a face amount of $10 each, for a total principal amount of $92,533,520. The issuer sold 343,607 units to an individual investor at $9.95 per unit and the remainder to the public at par of $10, for total proceeds of $92,516,339.65.

The payout at maturity will be par of $10 plus triple any index gain, up to a maximum payout of par plus 15.57%.

Investors will be exposed to any index decline.

BofA Securities, Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Accelerated Return Notes
Underlying index:	S&P 500 index
Amount:	$92,533,520
Proceeds:	$92,516,339.65
Maturity:	July 26, 2024
Coupon:	0%
Price:	$9.95 per unit for 343,607 units; par of $10 for remainder
Payout at maturity:	Par plus triple any index gain, capped at par plus 15.57%; full exposure to any index decline
Initial level:	4,151.28
Pricing date:	May 25
Settlement date:	June 2
Agent:	BofA Securities, Inc.
Fees:	1.25% for 343,607 units; 1.75% for remainder
Cusip:	40443B858

© 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.