Published on 8/26/2015 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $1.14 million barrier enhanced participation notes linked to energy fund
By Angela McDaniels
Tacoma, Wash., Aug. 26 – HSBC USA Inc. priced $1.14 million of 0% barrier enhanced participation notes due Aug. 28, 2020 linked to the Energy Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 1.4 times any fund gain. Investors will receive par if the fund falls by up to 20% and will be fully exposed to losses from the initial level if the fund falls by more than 20%.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Barrier enhanced participation notes
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Underlying ETF: | Energy Select Sector SPDR fund
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Amount: | $1,135,000
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Maturity: | Aug. 28, 2020
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.4 times any fund gain; par if fund falls by up to 20%; full exposure to losses from initial level if fund falls by more than 20%
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Initial share price: | $63.50
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Pricing date: | Aug. 21
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Settlement date: | Aug. 28
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Underwriter: | HSBC Securities (USA) Inc.
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Fees: | 3%
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Cusip: | 40433B6B9
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