Published on 3/2/2016 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $3.15 million of six-year Stars linked to S&P 500 index
By Devika Patel
Knoxville, Tenn., March 2 – HSBC USA Inc. priced $3.15 million of 0% Strategic Accelerated Redemption Securities due March 11, 2022 linked to the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.
After one year, the notes will be called at par of $10 plus a call premium of 9.5% per year if the index closes at or above its initial level on any of the first five annual review dates.
The payout at maturity will be par unless the index falls, in which case investors will be exposed to any losses.
Merrill Lynch & Co. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Strategic Accelerated Redemption Securities
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Underlying index: | S&P 500
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Amount: | $3,147,000
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Maturity: | March 11, 2022
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par unless the index falls, in which case exposure to any losses
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Call: | At par plus 9.5% per year if index closes at or above initial level on any of the first five annual review dates
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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 7
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Agent: | Merrill Lynch & Co.
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Fees: | 2%
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Cusip: | 40434N580
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