Published on 12/28/2015 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $12.02 million seven-year Mitts linked to the Dow
By Susanna Moon
Chicago, Dec. 28 – HSBC USA Inc. priced $12.02 million of 0% Market Index Target-Term Securities due Dec. 23, 2022 linked to the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus any index gain, up to a maximum return of 46.21%.
If the index falls, the payout will be par.
BofA Merrill Lynch is the underwriter.
Issuer: | HSBC USA Inc.
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Issue: | Market Index Target-Term Securities
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Underlying index: | Dow Jones industrial average
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Amount: | $12,019,630
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Maturity: | Dec. 23, 2022
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus any index gain, capped at 46.21% and floor of par
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Initial index level: | 17,417.27
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Pricing date: | Dec. 22
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Settlement date: | Dec. 30
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Underwriter: | BofA Merrill Lynch
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Fees: | 2.5%
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Cusip: | 40434K354
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