Published on 3/25/2015 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $71,000 leveraged buffered notes linked to high-dividend ETF
By Angela McDaniels
Tacoma, Wash., March 25 – HSBC USA Inc. priced $71,000 of 0% buffered uncapped market participation securities due March 26, 2020 linked to the PowerShares S&P 500 High Dividend Portfolio, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF return is greater than zero, the payout at maturity will be par plus 122% of the ETF return. Investors will receive par if the ETF falls by 20% or less and will lose 1% for every 1% that the ETF declines beyond 20%.
HSBC Securities (USA) Inc. is the underwriter.
Issuer: | HSBC USA Inc.
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Issue: | Buffered uncapped market participation securities
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Underlying ETF: | PowerShares S&P 500 High Dividend Portfolio
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Amount: | $71,000
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Maturity: | March 26, 2020
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 122% of any ETF gain; par if ETF falls by up to 20%; 1% loss for every 1% that ETF declines beyond 20%
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Initial level: | $33.06
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Pricing date: | March 23
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Settlement date: | March 26
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Underwriter: | HSBC Securities (USA) Inc.
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Fees: | 2.5%
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Cusip: | 40433BF78
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