Published on 6/30/2015 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $14.43 million Stars linked to S&P 500
By Angela McDaniels
Tacoma, Wash., June 30 – HSBC USA Inc. priced $14.43 million of 0% Strategic Accelerated Redemption Securities due July 8, 2016 linked to the S&P 500 index, 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 7.5% if the index closes at or above its initial level on Dec. 18, 2015, March 18, 2016 or July 1, 2016.
If the notes are not called, investors will have one-to-one exposure to the index’s decline at maturity.
BofA Merrill Lynch is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Strategic Accelerated Redemption Securities
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Underlying index: | S&P 500
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Amount: | $14,426,600
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Maturity: | July 8, 2016
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | One-to-one exposure to index’s decline
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Call: | At par plus 7.5% per year if index closes at or above initial level on Dec. 18, 2015, March 18, 2016 or July 1, 2016
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Initial index level: | 2,102.31
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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: | 1.25%
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Cusip: | 40434G197
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