Published on 3/28/2016 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $5.53 million barrier enhanced notes tied to S&P 500 index
By Wendy Van Sickle
Columbus, Ohio, March 28 – HSBC USA Inc. priced $5.53 million barrier enhanced participation notes due Sept. 30, 2019 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 1.32 times any index gain.
Investors will receive par if the index falls by up to 25% and will be fully exposed to any losses if the index finishes below the 75% barrier level.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Barrier enhanced participation notes
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Underlying index: | S&P 500
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Amount: | $5,527,000
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Maturity: | Sept. 30, 2019
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 132% of any index gain; par if index falls by up to 25%; full exposure to losses from initial level if index falls by more than 25%
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Initial index level: | 2,035.94
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Pricing date: | March 24
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Settlement date: | March 30
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Underwriter: | HSBC Securities (USA) Inc.
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Fees: | 2.75%
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Cusip: | 40433UJV9
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