Published on 9/1/2015 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $155.10 million Accelerated Return Notes linked to S&P 500
New York, Sept. 1 – HSBC USA Inc. priced $155.10 million of 0% Accelerated Return Notes due Oct. 28, 2016 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 300% of the index return, subject to a maximum return of 12.27%. If the index return is negative, investors will be fully exposed to the decline.
BofA Merrill Lynch is the underwriter.
Issuer: | HSBC USA Inc.
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Issue: | Accelerated Return Notes
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Underlying index: | S&P 500
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Amount: | $155,104,690
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Maturity: | Oct. 28, 2016
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 300% of any index gain, capped at 12.27%; exposure to any index decline
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Initial index level: | 1,987.66
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Final index level: | Average of index’s closing levels on five trading days ending Oct. 25, 2016
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Pricing date: | Aug. 27
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Settlement date: | Sept. 3
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Agent: | BofA Merrill Lynch
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Fees: | 2%
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Cusip: | 40434E630
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