Published on 1/2/2014 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $500,000 market plus notes linked to Euro Stoxx 50
By Jennifer Chiou
New York, Jan. 2 - HSBC USA Inc. priced $500,000 of 0% market plus notes due July 1, 2015 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-out event occurs if the index finishes below the knock-out level, 78.5% of the initial level.
If a knock-out event has not occurred, the payout at maturity will be par plus the greater of the index return and zero. Otherwise, investors will have exposure to any losses.
HSBC Securities (USA) Inc. is the underwriter, and J.P. Morgan Securities LLC is the dealer.
Issuer: | HSBC USA Inc.
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Issue: | Market plus notes
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Underlying index: | Euro Stoxx 50
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Amount: | $500,000
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Maturity: | July 1, 2015
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index finishes at or above 78.5% of initial level, par plus greater of index return and zero; otherwise, exposure to losses
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Initial index level: | 3,111.37
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Knock-out level: | 78.5% of initial level
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Pricing date: | Dec. 27
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Settlement date: | Jan. 2
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Underwriter: | HSBC Securities (USA) Inc.
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Dealer: | J.P. Morgan Securities LLC
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Fees: | 1.25%
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Cusip: | 40432XRF0
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