Published on 6/29/2015 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $108.94 million Accelerated Return Notes linked to S&P Regional Banks
By Angela McDaniels
Tacoma, Wash., June 29 – HSBC USA Inc. priced $108.94 million of 0% Accelerated Return Notes due Aug. 26, 2016 linked to the S&P Regional Banks Select Industry 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 of $10 plus 300% of the index return, subject to a maximum payout of par plus 15.75%. Investors will lose 1% for every 1% decline in the index.
BofA Merrill Lynch is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Accelerated Return Notes
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Underlying index: | S&P Regional Banks Select Industry index
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Amount: | $108,940,920
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Maturity: | Aug. 26, 2016
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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 300% of index return, subject to maximum payout of par plus 15.75%; 1% loss for every 1% decline
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Initial index level: | 1,415.24
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Final index level: | Average of index’s closing levels on five trading days ending Aug. 23, 2016
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Pricing date: | June 25
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Settlement date: | July 2
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Agent: | BofA Merrill Lynch
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Fees: | 2%
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Cusip: | 40434G213
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