Published on 6/1/2016 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $18.12 million Leveraged Index Return Notes tied to S&P 500
By Wendy Van Sickle
Columbus, Ohio, June 1 – HSBC USA Inc. sold $18.12 million of 0% Leveraged Index Return Notes due May 28, 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 of $10 plus 121.15% of any index gain.
Investors will receive par if the index falls by up to 20% and will lose 1% for each 1% the index falls beyond 20%.
BofA Merrill Lynch is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Leveraged Index Return Notes
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Underlying index: | S&P 500
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Amount: | $18,121,010
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Maturity: | May 28, 2021
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 121.15% of any index gain; par if index declines by up to 20%; 1% loss for each loss beyond 20%
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Initial level: | 2,090.10
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Pricing date: | May 26
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Settlement date: | June 3
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Agent: | BofA Merrill Lynch
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Fees: | 2.5%
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Cusip: | 40434N275
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