Published on 7/28/2014 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $355,000 buffered accelerated return notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., July 28 – HSBC USA Inc. priced $355,000 of 0% buffered accelerated return notes due July 29, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus 135% of the index return. Investors will receive par if the index declines by 30% or less and will lose 1.4286% for every 1% that it declines beyond 30%.
HSBC Securities (USA) Inc. is the underwriter.
Issuer: | HSBC USA Inc.
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Issue: | Buffered accelerated return notes
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Underlying index: | S&P 500
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Amount: | $355,000
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Maturity: | July 29, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index return is positive, par plus 135% of index return; par if index declines by 30% or less; 1.4286% loss for every 1% that index declines beyond 30%
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Initial index level: | 1,987.98
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Pricing date: | July 24
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Settlement date: | July 29
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Underwriter: | HSBC Securities (USA) Inc.
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Fees: | 0.5%
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Cusip: | 40433BGZ5
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