Published on 4/1/2015 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $272,000 buffered digital notes linked to Russell 2000
By Toni Weeks
San Luis Obispo, Calif., April 1 – HSBC USA Inc. priced $272,000 of 0% buffered digital notes due Oct. 1, 2018 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level is greater than or equal to the initial level, the payout at maturity will be par plus 23%. Investors will receive par if the index declines by 15% or less and will lose 1% for every 1% that the index declines beyond the 15% buffer.
HSBC Securities (USA) Inc. is the underwriter.
Issuer: | HSBC USA Inc.
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Issue: | Buffered digital notes
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Underlying index: | Russell 2000
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Amount: | $272,000
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Maturity: | Oct. 1, 2018
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If final index level is greater than or equal to initial level, par plus 23%; par if index declines by 15% or less; 1% loss for every 1% index decline beyond 15%
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Initial index level: | 1,240.409
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Buffer level: | 85% of initial level
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Pricing date: | March 27
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Settlement date: | March 31
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Underwriter: | HSBC Securities (USA) Inc.
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Fees: | 2.5%
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Cusip: | 40433BG69
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