Published on 9/15/2014 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $6.79 million Leveraged Index Return Notes tied to the Dow
By Jennifer Chiou
New York, Sept. 15 – HSBC USA Inc. priced $6.79 million of 0% Leveraged Index Return Notes due Sept. 25, 2020 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 114.1% of any index gain. Investors will receive par if the index falls by up to 25% and will lose 1% for every 1% that it declines beyond 25%.
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: | $6.79 million
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Maturity: | Sept. 25, 2020
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 114.1% of any index gain; par if index falls by up to 25%; 1% loss for every 1% that index falls beyond 25%
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Initial index level: | 17,049
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Threshold level: | 12,786.75, 75% of initial level
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Final index level: Average of index's closing levels on five trading days ending Sept. 22, 2020
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Pricing date: | Sept. 11
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Settlement date: | Sept. 18
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Underwriter: | BofA Merrill Lynch
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Fees: | 2.5%
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Cusip: | 40434D731
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