Published on 12/24/2015 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $9.74 million Leveraged Index Return Notes on index basket
By Wendy Van Sickle
Columbus, Ohio, Dec. 24 – HSBC USA Inc. priced $9.74 million of 0% Leveraged Index Return Notes due Dec. 21, 2018 linked to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes the Euro Stoxx 50 index with a 40% weight, the FTSE 100 index with a 20% weight, the Nikkei 225 index with a 20% weight, the S&P/ASX 200 index with a 7.5% weight, the Swiss Market index with a 7.5% weight and the Hang Seng index with a 5% weight.
If the basket return is positive, the payout at maturity will be par of $10 plus 160% of the basket return. If the basket return is negative, investors will be fully exposed to the decline.
BofA Merrill Lynch is the underwriter.
Issuer: | HSBC USA Inc.
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Issue: | Leveraged Index Return Notes
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Underlying indexes: | Euro Stoxx 50 (40% weight), FTSE 100 (20% weight), Nikkei 225 (20% weight), S&P/ASX 200 (7.5% weight), Swiss Market (7.5% weight) and Hang Seng (5% weight)
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Amount: | $9,740,460
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Maturity: | Dec. 21, 2018
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 160% of any basket gain; exposure to any index decline
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Initial levels: | 3,214.32 for Euro Stoxx 50, 6,083.10 for FTSE 100, 18,886.70 for Nikkei 225, 5,116.691 for S&P/ASX 200, 8,515.82 for Swiss Market and 21,830.02 for Hang Seng
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Pricing date: | Dec. 22
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Settlement date: | Dec. 30
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Agent: | BofA Merrill Lynch
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Fees: | 2.25%
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Cusip: | 40434K420
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