Published on 6/22/2016 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $2.77 million buffered uncapped market notes linked to S&P 500
By Wendy Van Sickle
Columbus, Ohio, June 22 – HSBC USA Inc. priced $2.77 million 0% buffered uncapped market participation securities due June 24, 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 plus 100% of any index gain.
Investors will receive par if the index falls by up to 25% and will lose 1% for every 1% decline beyond the 25% buffer.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Buffered uncapped market participation securities
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Underlying index: | S&P 500 Index
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Amount: | $2,774,000
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Maturity: | June 24, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index return is positive, par plus 100% of the index return; par if index falls by up to 25%; 1% loss for every 1% decline in index beyond 25%
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Initial index level: | 2,071.22
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Pricing date: | June 17
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Settlement date: | June 24
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Underwriters: | HSBC Securities (USA) Inc.
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Fees: | 3%
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Cusip: | 40433UNE2
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