Published on 5/4/2016 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $895,000 buffered uncapped notes on low volatility ETF
By Marisa Wong
Morgantown, W.Va., May 4 – HSBC USA Inc. priced $895,000 of 0% buffered uncapped market participation securities due April 30, 2019 tied to the Powershares S&P 500 Low Volatility Portfolio exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the fund return is positive, the payout at maturity will be par plus the gain. Investors will receive par if the fund falls by up to 15% and will lose 1% for every 1% decline beyond 15%.
HSBC Securities (USA) Inc. is the underwriter.
Issuer: | HSBC USA Inc.
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Issue: | Buffered uncapped market participation securities
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Underlying ETF: | Powershares S&P 500 Low Volatility Portfolio ETF
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Amount: | $895,000
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Maturity: | April 30, 2019
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If fund return is positive, par plus fund gain; par if fund falls by up to 15%; 1% loss for every 1% decline beyond 15%
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Initial price: | $39.97
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Pricing date: | April 26
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Settlement date: | April 29
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Underwriters: | HSBC Securities (USA) Inc.
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Fees: | 0.25%
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Cusip: | 40433UKJ4
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