Published on 4/22/2015 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $600,000 buffered notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., April 22 – HSBC USA Inc. priced $600,000 of 0% buffered market participation securities due April 25, 2016 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is greater than zero, the payout at maturity will be par plus the index return, subject to a maximum return of 5.75%. Investors will receive par if the index declines by 10% or less and will lose 1% for every 1% that the index declines beyond 10%.
HSBC Securities (USA) Inc. is the underwriter.
Issuer: | HSBC USA Inc.
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Issue: | Buffered market participation securities
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Underlying index: | S&P 500
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Amount: | $600,000
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Maturity: | April 25, 2016
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index return is greater than zero, par plus index return, subject to 5.75% maximum return; par if index declines by 10% or less; 1% loss for every 1% that index declines beyond 10%
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Initial index level: | 2,081.18
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Pricing date: | April 17
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Settlement date: | April 22
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Underwriter: | HSBC Securities (USA) Inc.
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Fees: | None
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Cusip: | 40433BP51
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