Published on 7/24/2014 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $2.28 million knock-out buffer notes linked to MSCI Emerging Markets index
By Toni Weeks
San Luis Obispo, Calif., July 24 – HSBC USA Inc. priced $2.28 million of knock-out buffer notes due July 24, 2019 linked to the MSCI Emerging Markets index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index falls by more than 25% on the July 19, 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 1.28 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: | MSCI Emerging Markets
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Amount: | $2,275,000
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Maturity date: | July 24, 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 July 19, 2019, par plus the index return; otherwise, par plus greater of 1.28 times the index return and zero
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Initial level: | 1,063.26
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Knock-out buffer: | 25% of initial level
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Pricing date: | July 21
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Settlement date: | July 24
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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: | 40433BHF8
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