Published on 8/11/2015 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $495,000 return enhanced notes tied to Korean won vs. dollar
By Susanna Moon
Chicago, Aug. 11 – HSBC USA Inc. priced $495,000 of 0% return enhanced notes due Aug. 14, 2017 linked to the Korean won relative to the dollar, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus triple any gain in the currency, up to a maximum return of 22.5%.
Investors will be exposed to any losses.
HSBC Securities (USA) Inc. is the underwriter with J.P. Morgan Securities LLC as placement agent.
Issuer: | HSBC USA Inc.
|
Issue: | Return enhanced notes
|
Underlying currency: | Korean won to the dollar
|
Amount: | $495,000
|
Maturity: | Aug. 14, 2017
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | Par plus 300% of any currency gain, capped at 22.5%; exposure to any losses
|
Initial level: | 1,164.3
|
Pricing date: | Aug. 7
|
Settlement date: | Aug. 12
|
Underwriter: | HSBC Securities (USA) Inc. with J.P. Morgan Securities LLC as placement agent
|
Fees: | 1.5%
|
Cusip: | 40433B5Y0
|
|
|
© 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.