Published on 3/26/2014 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $2.58 million knock-out buffer notes tied to Euro Stoxx 50
By Toni Weeks
San Luis Obispo, Calif., March 26 - HSBC USA Inc. priced $2.58 million of knock-out buffer notes due March 27, 2019 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
If index falls by more than 25% on the March 22, 2019 final valuation date, the payout at maturity will be par plus the index return, with full exposure to losses. Otherwise the payout will be par plus the greater of 1.9 times the index return and zero.
HSBC Securities (USA) Inc. is the underwriter, and J.P. Morgan Securities LLC is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Knock-out buffer notes
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Underlying index: | Euro Stoxx 50
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Amount: | $2,575,000
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Maturity date: | March 27, 2019
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index falls by more than 25% on March 22, 2019, par plus the index return; otherwise, par plus greater of 1.9 times the index return and zero
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Initial level: | 3,052.91
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Knock-out buffer: | 25% of initial level
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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. with J.P. Morgan Securities LLC as agent
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Fees: | 3%
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Cusip: | 40432XWB3
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