Published on 2/25/2013 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $35.38 million market-linked step-up notes on Euro Stoxx
By Jennifer Chiou
New York, Feb. 25 - HSBC USA Inc. priced $35,384,250 of 0% market-linked step-up notes due Feb. 27, 2015 tied to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above the step-up value - 121% of the initial level - the payout at maturity will be par plus the index gain.
If the index finishes below the step-up level but at or above the initial level, the payout will be par plus the step-up return of 21%.
Investors will be fully exposed to any losses beyond 5%.
BofA Merrill Lynch is the underwriter.
Issuer: | HSBC USA Inc.
|
Issue: | Market-linked step-up notes
|
Underlying index: | Euro Stoxx 50
|
Amount: | $35,384,250
|
Maturity: | Feb. 27, 2015
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | If index finishes at or above the step-up level, par plus the gain; if index stays flat or gains up to step-up level, par plus 21%; otherwise, exposure to any losses beyond 5%
|
Initial index level: | 2,579.76
|
Step-up level: | 3,121.51, 121% of initial level
|
Pricing date: | Feb. 21
|
Settlement date: | Feb. 28
|
Underwriters: | BofA Merrill Lynch
|
Fees: | 2%
|
Cusip: | 40433T349
|
© 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.