Published on 3/30/2015 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $14.55 million Accelerated Return Notes linked to S&P Regional Banks
By Angela McDaniels
Tacoma, Wash., March 30 – HSBC USA Inc. priced $14.55 million of 0% Accelerated Return Notes due May 27, 2016 linked to the S&P Regional Banks Select Industry 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 17.19%. 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.
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Issue: | Accelerated Return Notes
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Underlying index: | S&P Regional Banks Select Industry index
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Amount: | $14,552,990
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Maturity: | May 27, 2016
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 300% of any index gain, up to 17.19% maximum return; exposure to any index decline
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Initial index level: | 1,267.21
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Final index level: | Average of index’s closing levels on five trading days ending March 24, 2016
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Pricing date: | March 26
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Settlement date: | April 2
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Underwriter: | BofA Merrill Lynch
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Fees: | 2%
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Cusip: | 40434G205
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