Published on 3/11/2015 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $3.13 million knock-out barrier notes on peso vs. dollar
By Susanna Moon
Chicago, March 11 – HSBC USA Inc. priced $3.13 million of knock-out barrier notes due March 23, 2016 linked to the performance of the Mexican peso relative to the dollar, according to a 424B2 with the Securities and Exchange Commission.
If the currency finishes at or above the 84.95% barrier level, the payout at maturity will be par plus the greater of the currency return and the 4% contingent minimum return.
Otherwise, the payout will be par plus the currency return with full exposure to any losses.
HSBC Securities (USA) Inc. is the agent with J.P. Morgan Securities LLC as the placement agent.
Issuer: | HSBC USA Inc.
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Issue: | Knock-out barrier notes
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Underlying: | Mexican peso relative to dollar
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Amount: | $3,125,000
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Maturity: | March 23, 2016
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If currency finishes at or above barrier level, par plus any currency gain, floor of 4%; otherwise, par plus return with full exposure to any losses
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Initial spot rate: | 15.225
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Barrier amount: | 15.05%
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Pricing date: | March 6
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Settlement date: | March 12
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Agents: | HSBC Securities (USA) Inc. with J.P. Morgan Securities LLC
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Fees: | 1%
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Cusip: | 40433BH35
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