Published on 5/11/2015 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $7.53 million market plus notes linked to Euro Stoxx 50
By Angela McDaniels
Tacoma, Wash., May 11 – HSBC USA Inc. priced $7.53 million of 0% market plus notes due May 13, 2020 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-out event occurs if the final index level has decreased, as compared to the initial level, by more than 30%.
If a knock-out event has not occurred, the payout at maturity will be par plus the greater of (a) 147.75% of the index return and (b) zero. Otherwise, investors will be fully exposed to the index’s decline.
HSBC Securities (USA) Inc. is the underwriter. J.P. Morgan Securities LLC is the placement agent.
Issuer: | HSBC USA Inc.
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Issue: | Market plus notes
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Underlying: | Euro Stoxx 50
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Amount: | $7.53 million
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Maturity: | May 13, 2020
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If final index level has decreased, as compared to initial level, by more than 30%, full exposure to index’s decline; otherwise, par plus 147.75% of index return, subject to minimum payout of par
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Initial level: | 3,649.48
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Final index level: Average of index’s closing levels on five trading days ending May 8, 2020
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Pricing date: | May 8
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Settlement date: | May 13
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Underwriter: | HSBC Securities (USA) Inc.
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Agent: | J.P. Morgan Securities LLC
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Fees: | 3%
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Cusip: | 40433BV96
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