Published on 9/2/2015 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $5.93 million Accelerated Return Notes linked to DAX
New York, Sept. 2 – HSBC USA Inc. priced $5.93 million of 0% Accelerated Return Notes due Oct. 28, 2016 tied to the DAX 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 plus 300% of the index return, subject to a maximum payout of par plus 16.26%. Investors will lose 1% for every 1% decline in the index.
Merrill Lynch & Co. is the underwriter.
Issuer: | HSBC USA Inc.
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Issue: | Accelerated Return Notes
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Underlying index: | DAX Index
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Amount: | $5,933,000
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Maturity: | Oct. 28, 2016
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index return is positive, par plus 300% of index return, subject to maximum payout of par plus 16.26%; 1% loss for every 1% decline
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Initial index level: | 5,175.85
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Pricing date: | Aug. 27
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Settlement date: | Sept. 3
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Underwriters: | Merrill Lynch & Co.
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Fees: | 2%
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Cusip: | 40434E473
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