Published on 4/26/2016 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $3.56 million buffered uncapped market participation securities on S&P 500
By Wendy Van Sickle
Columbus, Ohio, April 26 – HSBC USA Inc. priced $3.56 million of 0% buffered uncapped market participation securities due April 29, 2021 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 any index gain. Investors will receive par if the index declines by 25% or less and will be exposed to any declines beyond 25%.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Buffered uncapped market participation securities
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Underlying index: | S&P 500 Index
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Amount: | $3,558,000
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Maturity: | April 29, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index return is positive, par plus 100% of the index return; par if index falls by up to 25%; 1% loss for every 1% decline in index beyond 25%
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Initial index level: | 2,091.58
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Pricing date: | April 22
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Settlement date: | April 29
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Underwriters: | HSBC Securities (USA) Inc.
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Fees: | 3%
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Cusip: | 40433UKC9
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