Published on 2/26/2015 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $2.53 million performance barrier notes linked to FTSE 100
By Marisa Wong
Madison, Wis., Feb. 26 – HSBC USA Inc. priced $2.53 million of 0% performance barrier notes due Aug. 27, 2018 linked to the FTSE 100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 168% of any index gain.
Investors will receive par if the index falls by up to 25% and will be fully exposed to any losses if the index falls by more than the 25% barrier.
HSBC Securities (USA) Inc. is the underwriter.
Issuer: | HSBC USA Inc.
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Issue: | Performance barrier notes
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Underlying index: | FTSE 100 index
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Amount: | $2,532,000
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Maturity: | Aug. 27, 2018
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 168% of index return if index return is greater than zero; par if index declines by 25% or less; full exposure to index’s decline from its initial level if it falls by more than 25%
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Initial index level: | 6,949.63
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Pricing date: | Feb. 24
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Settlement date: | Feb. 27
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Underwriter: | HSBC Securities (USA) Inc.
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Fees: | 2.75%
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Cusip: | 40433BA73
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