Published on 6/15/2015 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $13.16 million one-year Stars linked to Amazon
By Toni Weeks
San Luis Obispo, Calif., June 15 – HSBC USA Inc. priced $13.16 million of 0% Strategic Accelerated Redemption Securities due June 24, 2016 linked to Amazon.com, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par of $10 plus an annualized call premium of 19.51% per year if the stock closes at or above its initial level on any quarterly review date.
The payout at maturity will be par unless the stock falls, in which case investors will be exposed to any losses.
BofA Merrill Lynch is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Strategic Accelerated Redemption Securities
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Underlying stock: | Amazon.com, Inc. (Nasdaq: AMZN)
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Amount: | $13,158,430
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Maturity: | June 24, 2016
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par unless stock return is negative, in which case full exposure to stock price decline
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Call: | At par plus 19.51% per year if stock closes at or above its initial level of Dec. 18, 2015, March 18, 2016 or June 17, 2016
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Initial price: | $434.84
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Pricing date: | June 11
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Settlement date: | June 18
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Agent: | BofA Merrill Lynch
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Fees: | 1.25%
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Cusip: | 40434G189
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