Published on 12/7/2015 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $5 million buffered return enhanced notes on S&P 500
By Marisa Wong
Morgantown, W.Va., Dec. 7 – HSBC USA Inc. priced $5 million of 0% buffered return enhanced notes due May 30, 2018 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 plus 1.5 times the index return, up to a maximum return of 21.21%. Investors will receive par if the index declines by 19% or less and will lose 1.2346% for every 1% that the index declines beyond 19%.
JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the placement agents.
Issuer: | HSBC USA Inc.
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Issue: | Buffered return enhanced notes
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Underlying index: | S&P 500 index
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Amount: | $5 million
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Maturity: | May 30, 2018
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.5 times any index gain, up to a maximum return of 21.21%; par if the index declines by 19% or less; 1.2346% loss for every 1% that the index declines beyond 19%
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Initial price: | 2,089.14
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Pricing date: | Nov. 24
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Settlement date: | Nov. 30
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Agents: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
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Fees: | 1.75%
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Cusip: | 40433UET9
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