Published on 12/7/2015 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $3.99 million contingent return notes tied to S&P 500
By Marisa Wong
Morgantown, W.Va., Dec. 7 – HSBC USA Inc. priced $3.99 million of 0% contingent return optimization securities due Nov. 30, 2017 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above the 80% trigger level, the payout at maturity will be par of $10 plus the greater of the 6% contingent return and the index gain, up to a maximum return of 20%.
Otherwise, investors will be fully exposed to any losses.
HSBC Securities (USA) Inc. and UBS Financial Services Inc. are the agents.
Issuer: | HSBC USA Inc.
|
Issue: | Contingent return optimization securities
|
Underlying index: | S&P 500
|
Amount: | $3,994,800
|
Maturity: | Nov. 30, 2017
|
Coupon: | 0%
|
Price: | Par of $10
|
Payout at maturity: | If index finishes at or above the trigger level, par plus greater of 6% and index return, capped at 20%; otherwise, full exposure to any losses
|
Initial index level: | 2,089.14
|
Trigger level: | 1,671.32, 80% of initial level
|
Pricing date: | Nov. 24
|
Settlement date: | Nov. 30
|
Agent: | HSBC Securities (USA) Inc. and UBS Financial Services Inc.
|
Fees: | 2%
|
Cusip: | 40434K578
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.