Published on 3/2/2016 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $4.34 million of jump securities linked to S&P 500 index
By Devika Patel
Knoxville, Tenn., March 2 – HSBC USA Inc. priced $4.34 million of 0% jump securities due March 5, 2018 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 initial level, the payout at maturity will be par of $10 plus 24.2%. If the index finishes below the initial level, investors will be fully exposed 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: | Jump securities
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Underlying index: | S&P 500
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Amount: | $4,338,700
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Maturity: | March 5, 2018
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If index return is positive or flat, par plus 24.2%; exposure to losses
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Initial index level: | 1,932.23
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Pricing date: | Feb. 29
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Settlement date: | March 3
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Agent: | HSBC Securities (USA) Inc.
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Fees: | None
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Cusip: | 40434N812
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