Published on 7/28/2014 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $31.15 million Leveraged Index Return Notes linked to Dow
By Angela McDaniels
Tacoma, Wash., July 28 – HSBC USA Inc. priced $31.15 million of 0% Leveraged Index Return Notes due July 26, 2019 linked to the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus 108.15% of any index gain. Investors will receive par if the index falls by up to 20% and will lose 1% for every 1% that it declines beyond 20%.
BofA Merrill Lynch is the underwriter.
Issuer: | HSBC USA Inc.
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Issue: | Leveraged Index Return Notes
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Underlying index: | Dow Jones industrial average
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Amount: | $31,145,270
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Maturity: | July 26, 2019
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 108.15% of any index gain; par if index falls by up to 20%; 1% loss for every 1% that index falls beyond 20%
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Initial index level: | 17,083.80
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Threshold level: | 13,667.04, 80% of initial level
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Final index level: | Average of index's closing levels on five trading days ending July 23, 2019
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Pricing date: | July 24
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Settlement date: | July 31
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Underwriter: | BofA Merrill Lynch
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Fees: | 2.5%
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Cusip: | 40434C345
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