Published on 6/10/2016 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $504,000 buffered uncapped notes linked to low volatility ETF
By Angela McDaniels
Tacoma, Wash., June 10 – HSBC USA Inc. priced $504,000 of 0% Buffered Uncapped Market Participation Securities due May 31, 2019 linked 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 ETF return is greater than zero, the payout at maturity will be par plus the ETF return. If the ETF return is less than or equal to zero but greater than or equal to negative 12.5%, the payout will be par. Otherwise, investors will lose 1% for every 1% that the ETF declines beyond 12.5%.
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: | $504,000
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Maturity: | May 31, 2019
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If ETF return is greater than zero, par plus ETF return; if ETF return is less than or equal to zero but greater than or equal to negative 12.5%, par; otherwise, 1% loss for every 1% that ETF declines beyond 12.5%
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Initial share price: | $40.28
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Pricing date: | May 25
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Settlement date: | May 31
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Underwriter: | HSBC Securities (USA) Inc.
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Fees: | None
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Cusip: | 40433ULV6
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