Published on 5/29/2015 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $1.15 million buffered market participation securities linked to S&P 500
By Toni Weeks
San Luis Obispo, Calif., May 29 – HSBC USA Inc. priced $1.15 million of 0% buffered uncapped market participation securities due May 29, 2019 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus any index gain. Investors will receive par if the index falls by up to 15% and will lose 1% for every 1% decline beyond the 15% buffer.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Buffered uncapped market participation securities
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Underlying index: | S&P 500
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Amount: | $1,152,000
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Maturity date: | May 29, 2019
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus any index gain; par if index falls by up to 15%; 1% loss for every 1% drop beyond 15%
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Initial index level: | 2,104.2
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Buffer level: | 85% of initial level
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Pricing date: | May 26
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Settlement date: | May 29
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 0.25%
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Cusip: | 40433BQ92
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