Published on 8/4/2015 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $9.76 million buffered PLUS linked to S&P 500
By Angela McDaniels
Tacoma, Wash., Aug. 4 – HSBC USA Inc. priced $9.76 million of 0% buffered Performance Leveraged Upside Securities due Aug. 3, 2018 linked to the S&P 500 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 200% of the index return, subject to a maximum return of 24%. Investors will receive par if the index falls by up to 10% and will lose 1% for each 1% that the index declines beyond 10%.
HSBC Securities (USA) Inc. is the agent. Morgan Stanley Smith Barney LLC is handling distribution.
Issuer: | HSBC USA Inc.
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Issue: | Buffered Performance Leveraged Upside Securities
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Underlying index: | S&P 500
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Amount: | $9,757,940
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Maturity date: | Aug. 3, 2018
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 200% of any index gain, subject to 24% maximum return; par if index falls by 10% or less; 1% loss for each 1% index declines beyond 10%
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Initial index level: | 2,103.84
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Pricing date: | July 31
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Settlement date: | Aug. 5
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Agent: | HSBC Securities (USA) Inc.
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Distribution: | Morgan Stanley Smith Barney LLC
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Fees: | 3%
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Cusip: | 40434E838
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