Published on 8/11/2015 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $2.37 million return enhanced notes tied to Euro Stoxx Banks
By Susanna Moon
Chicago, Aug. 11 – HSBC USA Inc. priced $2.37 million of 0% return enhanced notes due Aug. 24, 2016 linked to the Euro Stoxx Banks index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus double any gain in the index, up to a maximum return of 24.6%.
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.
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Issue: | Return enhanced notes
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Underlying index: | Euro Stoxx Banks index
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Amount: | $2,365,000
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Maturity: | Aug. 24, 2016
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 200% of any index gain, capped at 24.6%; exposure to any losses
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Initial level: | 156.06
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Pricing date: | Aug. 7
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Settlement date: | Aug. 12
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Underwriter: | HSBC Securities (USA) Inc. with J.P. Morgan Securities LLC as placement agent
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Fees: | 1%
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Cusip: | 40433B6A1
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