Published on 4/28/2014 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $399,000 three-year SelectInvest notes tied to indexes, fund
By Jennifer Chiou
New York, April 28 - HSBC USA Inc. priced $399,000 of 0% SelectInvest debt securities due May 1, 2017 linked to a basket of indexes and one fund, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the S&P 500 index with a 40% weight, the Euro Stoxx 50 index with a 30% weight, the Russell 2000 index with a 20% weight and iShares MSCI Emerging Markets ETF with a 10% weight.
The payout at maturity will be par plus any basket gain, up to a maximum return of 28%.
Investors will receive par if the basket falls by up to 15% and will lose 1% for every 1% decline beyond 15%.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | SelectInvest debt securities
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Underlying basket: | S&P 500 index (40% weight), the Euro Stoxx 50 index (30% weight), the Russell 2000 index (20% weight) and iShares MSCI Emerging Markets ETF (10% weight)
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Amount: | $399,000
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Maturity: | May 1, 2017
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus any basket gain, capped at 28%; par if basket falls by up to 15%; 1% loss for every 1% decline beyond 15%
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Initial levels: | 1,878.61 for the S&P, 3,189.81 for the Euro Stoxx, 1,144.352 for the Russell and $41.36 for MSCI EM fund
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Pricing date: | April 24
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Settlement date: | April 29
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Agent: | HSBC Securities (USA) Inc.
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Fees: | None
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Cusip: | 40432XXJ5
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