Published on 6/30/2015 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $32.02 million leveraged notes linked to Dow
By Angela McDaniels
Tacoma, Wash., June 30 – HSBC USA Inc. priced $32.02 million of 0% Leveraged Index Return Notes due June 26, 2020 linked to the Dow Jones industrial average, 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 112% of the index return. Investors will receive par if the index declines by 20% or less and will lose 1% for every 1% that it declines beyond 20%.
BofA Merrill Lynch is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Leveraged Index Return Notes
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Underlying index: | Dow Jones industrial average
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Amount: | $32,023,070
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Maturity: | June 26, 2020
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If index return is positive, par plus 112% of index return; par if index declines by 20% or less; 1% loss for every 1% that index declines beyond 20%
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Initial index level: | 17,890.36
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Final index level: | Average of index’s closing levels on five trading days ending June 23, 2020
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Pricing date: | June 25
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Settlement date: | July 2
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Underwriter: | BofA Merrill Lynch
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Fees: | 2.5%
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Cusip: | 40434G221
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