New Issue: HSBC prices $107.46 million Accelerated Return Notes linked to S&P 500

By Toni Weeks

San Luis Obispo, Calif., March 3 – HSBC USA Inc. priced $107.46 million of 0% Accelerated Return Notes due April 29, 2016 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the final index level is greater than the initial index level, the payout at maturity will be par of $10 plus 300% of the index return, subject to a cap of 10%. If the final index level is less than the initial index level, investors will be fully exposed to the decline.

BofA Merrill Lynch is the agent.

Issuer:	HSBC USA Inc.
Issue:	Accelerated Return Notes
Underlying index:	S&P 500
Amount:	$107,457,130
Maturity:	April 29, 2016
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 300% of any index gain, up to 10% maximum return; exposure to any index decline
Initial index level:	2,110.74
Final index level:	Average of index’s closing levels on five trading days ending April 26, 2016
Pricing date:	Feb. 26
Settlement date:	March 5
Underwriter:	BofA Merrill Lynch
Fees:	2%
Cusip:	40434F389

© 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.