Published on 6/2/2016 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $4.32 million digital return notes due 2017 tied to S&P 500
By Susanna Moon
Chicago, June 2 – HSBC USA Inc. priced $4.32 million of 0% digital return notes due Sept. 6, 2017 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the index finishes at or above the 90% barrier level, the payout at maturity will be par plus a digital return of 8%.
Otherwise, investors will lose 1.1111% for every 1% decline beyond 10%.
HSBC Securities (USA) Inc. is the agent with J.P. Morgan Securities LLC as dealer.
Issuer: | HSBC USA Inc.
|
Issue: | Digital return notes
|
Underlying index: | S&P 500
|
Amount: | $4,315,000
|
Maturity: | Sept. 6, 2017
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | If index gains or falls by up to 10%, par plus 8%; 1.1111% loss per 1% drop beyond 10%
|
Initial level: | 2,099.06
|
Barrier level: | 90% of initial level
|
Pricing date: | May 27
|
Settlement date: | June 2
|
Agents: | HSBC Securities (USA) Inc. with J.P. Morgan Securities LLC
|
Fees: | 1.12%
|
Cusip: | 40433UPF7
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.