Published on 9/28/2015 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $6.19 million one-year Stars linked to S&P 500
By Susanna Moon
Chicago, Sept. 28 – HSBC USA Inc. priced $6.19 million of 0% Strategic Accelerated Redemption Securities due Sept. 30, 2016 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par of $10 plus an annualized call premium of 12.6% if the index closes at or above its initial level on any call date.
The payout at maturity will be par unless the index falls, in which investors will be exposed to any losses.
BofA Merrill Lynch is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Strategic Accelerated Redemption Securities
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Underlying index: | S&P 500
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Amount: | $6,192,030
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Maturity: | Sept. 30, 2016
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par unless the index falls, in which exposure to any losses
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Call: | At par plus 12.6% per year if index closes at or above initial level on March 18, 2016, June 17, 2016 or Sept. 23, 2016
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Initial level: | 1,932.24
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Pricing date: | Sept. 24
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Settlement date: | Oct. 1
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Agent: | BofA Merrill Lynch
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Fees: | 1.25%
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Cusip: | 40434K602
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