Published on 3/2/2015 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $48.17 million capped leveraged notes linked to S&P 500
By Marisa Wong
Madison, Wis., March 2 – HSBC USA Inc. priced $48.17 million of 0% Capped Leveraged Index Return Notes due Feb. 24, 2017 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus double any index gain, up to a maximum return of 12.42%.
Investors will receive par if the index falls by up to 10% and will be exposed to any losses beyond 10%.
BofA Merrill Lynch is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Capped Leveraged Index Return Notes
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Underlying index: | S&P 500 index
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Amount: | $48,174,350
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Maturity: | Feb. 24, 2017
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 200% times any index gain, up to a maximum return of 12.42%; par if index falls by up to 10%; exposure to any losses beyond 10%
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Initial level: | 2,110.74
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Threshold level: | 1,899.67, 90% of initial level
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Pricing date: | Feb. 26
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Settlement date: | March 5
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Agent: | BofA Merrill Lynch
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Fees: | 2%
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Cusip: | 40434F421
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