Published on 4/29/2015 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $804,000 buffered notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., April 29 – HSBC USA Inc. priced $804,000 of 0% buffered market participation securities due April 30, 2018 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 21% maximum return. Investors will receive par if the index falls by 15% or less and will lose 1% for every 1% that the index declines beyond 15%.
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: | $804,000
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Maturity: | April 30, 2018
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus any index gain, subject to 21% cap; par if index falls by up to 15%; 1% loss for every 1% that index declines beyond 15%
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Initial index level: | 2,108.92
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Pricing date: | April 27
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Settlement date: | April 30
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Underwriter: | HSBC Securities (USA) Inc.
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Fees: | 2%
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Cusip: | 40433BN20
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