Published on 5/16/2016 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $1.32 million leveraged capped notes linked to S&P 500 index
By Wendy Van Sickle
Columbus, Ohio, May 16 – HSBC USA Inc. priced $1.32 million of 0% leveraged capped notes due Oct. 5, 2018 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 triple any index gain, up to a maximum payment amount of $1,375 for each $1,000 principal amount.
Investors will be fully exposed to any losses.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Leveraged capped notes
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Underlying index: | S&P 500
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Amount: | $1,317,000
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Maturity: | Oct. 5, 2018
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Coupon: | 0%
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Price: | Par of $1,000
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Payout at maturity: | Par plus triple any index gain, capped at 37.5%; full exposure to any loss
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Initial level: | 2,064.11
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Pricing date: | May 12
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Settlement date: | May 19
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Agent: | HSBC Securities (USA) Inc.
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Fees: | None
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Cusip: | 40433UMT0
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