Published on 5/29/2015 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $1 million market participation notes on PowerShares S&P 500 Low Volatility
By Toni Weeks
San Luis Obispo, Calif., May 29 – HSBC USA Inc. priced $1 million of 0% buffered uncapped market participation securities due May 29, 2018 linked to the PowerShares S&P 500 Low Volatility Portfolio exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus any gain in the fund. Investors will receive par if the share price falls by up to 11% and will lose 1% for every 1% decline beyond 11%.
HSBC Securities (USA) Inc. is the underwriter.
| Issuer: | HSBC USA Inc.
|
| Issue: | Buffered uncapped market participation securities
|
| Underlying ETF: | PowerShares S&P 500 Low Volatility Portfolio ETF
|
| Amount: | $1,005,000
|
| Maturity date: | May 29, 2018
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus any ETF gain; par if price falls by up to 11%; 1% loss for every 1% decline beyond 11%
|
| Initial share price: | $37.35
|
| Buffer amount: | 11%
|
| Pricing date: | May 26
|
| Settlement date: | May 29
|
| Underwriter: | HSBC Securities (USA) Inc.
|
| Fees: | 0.25%
|
| Cusip: | 40433BR34
|
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