Published on 10/20/2015 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $3.76 million of PLUS linked to SPDR S&P Oil & Gas fund
By Wendy Van Sickle
Columbus, Ohio, Oct. 20 – HSBC USA Inc. priced $3,759,900 of 0% Performance Leveraged Upside Securities due Jan. 20, 2017 linked to the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filed with the Securities and Exchange Commission.
If the final share price is greater than the initial share price, the payout at maturity will be par of $10 plus 300% of the fund return, subject to a maximum return of 37%. If the final share price is less than the initial share price, investors will have one-to-one exposure to the decline.
HSBC Securities (USA) Inc. is the agent. Distribution is through Morgan Stanley Wealth Management.
Issuer: | HSBC USA Inc.
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Issue: | Performance Leveraged Upside Securities
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Underlying index: | SPDR S&P Oil & Gas Exploration & Production exchange-traded fund
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Amount: | $3,759,900
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Maturity: | Jan. 20, 2017
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par of $10 plus 300% of any gain in share price, capped at 37%; full exposure to any loss
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Initial share price: | $39.40
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Pricing date: | Oct. 16
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Settlement date: | Oct. 21
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Agent: | HSBC Securities (USA) Inc. with Morgan Stanley Wealth Management as distributor
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Fees: | 1.75%
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Cusip: | 40434K719
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