Published on 12/2/2014 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $9.35 million market-linked step-up notes on S&P 500, Euro Stoxx 50
By Susanna Moon
Chicago, Dec. 2 – HSBC USA Inc. priced $9.35 million of 0% market-linked step-up notes due Nov. 23, 2018 linked to a basket of the S&P 500 index and the Euro Stoxx 50 index, equally weighted, according to a 424B2 filing with the Securities and Exchange Commission.
If the basket finishes above the step-up value – 122.8% of the initial level – the payout at maturity will be par of $10 plus the gain.
If the basket finishes at or above the initial level but at or below the step-up value, the payout at maturity will be par of $10 plus the step-up payment of 22.8%.
Investors will receive par if the basket falls by up to 10% and will be exposed to any losses beyond 10%.
BofA Merrill Lynch is the agent.
Issuer: | HSBC USA Inc.
|
Issue: | Market-linked step-up notes
|
Underlying indexes: | S&P 500 and Euro Stoxx 50, equally weighted
|
Amount: | $9,353,980
|
Maturity: | Nov. 23, 2018
|
Coupon: | 0%
|
Price: | Par of $10
|
Payout at maturity: | If basket finishes above step-up level, par plus gain; if basket gains up to step-up value, par plus 22.8%; if basket falls by up to 10%, par; otherwise, exposure to any losses beyond 10%
|
Step-up value: | 122.8% of initial level
|
Buffer level: | 90% of initial level
|
Pricing date: | Nov. 25
|
Settlement date: | Dec. 3
|
Agent: | BofA Merrill Lynch
|
Fees: | 2.5%
|
Cusip: | 40434D178
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.