Published on 6/2/2015 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $22.43 million Leveraged Index Return Notes on Euro Stoxx
By Toni Weeks
San Luis Obispo, Calif., June 2 – HSBC USA Inc. priced $22.43 million of 0% Leveraged Index Return Notes due May 29, 2020 tied to the Euro Stoxx 50 Index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus 114% of the index return. Investors will receive par if the index falls by up to 20% and will lose 1% for every 1% decline in the index beyond 20%.
The final index level will be the average of the closing index levels on the five trading days ending May 26, 2020.
BofA Merrill Lynch is the underwriter.
Issuer: | HSBC USA Inc.
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Issue: | Leveraged Index Return Notes
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Underlying index: | Euro Stoxx 50 Index
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Amount: | $22,429,740
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Maturity: | May 29, 2020
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index return is positive, par plus 114% of index return; par if index falls by up to 20%; 1% loss for every 1% decline beyond 20%
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Initial index level: | 3,650.71
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Threshold level: | 2,920.57, 80% of initial level
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Pricing date: | May 28
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Settlement date: | June 4
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Underwriters: | BofA Merrill Lynch
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Fees: | 2.5%
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Cusip: | 40434G379
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