Published on 7/1/2015 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $3.2 million market plus notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., July 1 – HSBC USA Inc. priced $3.2 million of 0% market plus notes due July 1, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-out event occurs if the final index level has decreased, as compared to the initial level, by more than 25%.
If a knock-out event has not occurred, the payout at maturity will be par plus the greater of (a) 130% of the index return and (b) zero. Otherwise, investors will be fully exposed to the index’s decline.
HSBC Securities (USA) Inc. is the underwriter. J.P. Morgan Securities LLC is the placement agent.
Issuer: | HSBC USA Inc.
|
Issue: | Market plus notes
|
Underlying: | S&P 500
|
Amount: | $3.2 million
|
Maturity: | July 1, 2020
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | If final index level has decreased, as compared to initial level, by more than 25%, full exposure to index’s decline; otherwise, par plus 130% of index return, subject to minimum payout of par
|
Initial level: | 2,101.49
|
Pricing date: | June 26
|
Settlement date: | July 1
|
Underwriter: | HSBC Securities (USA) Inc.
|
Agent: | J.P. Morgan Securities LLC
|
Fees: | 2.5%
|
Cusip: | 40433B3W6
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.