Published on 6/29/2016 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $1.08 million buffered uncapped market participation notes on Russell 2000
New York, June 29 – HSBC USA Inc. priced $1.08 million of 0% buffered uncapped market participation securities due June 30, 2021 tied to the Russell 2000 Index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus 100% of the index return. Investors will receive par if the index falls by up to 20% and lose 1% for every 1% decline in the index beyond 20%.
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 index: | Russell 2000 Index
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Amount: | $1,078,000
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Maturity: | June 30, 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 20%; 1% loss for every 1% decline in index beyond 20%
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Initial index level: | 1,089.646
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Pricing date: | June 27
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Settlement date: | June 30
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Underwriters: | HSBC Securities (USA) Inc.
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Fees: | 3.75%
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Cusip: | 40433UNN2
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