Published on 7/1/2016 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $383,000 buffered uncapped market participation securities linked to index basket
By Wendy Van Sickle
Columbus, Ohio, July 1 – HSBC USA Inc. priced $383,000 of 0% buffered uncapped market participation securities due June 28, 2019 linked to a basket containing the S&P 500 index with a 50% weight, the Euro Stoxx 50 index with a 30% weight and the Russell 2000 index with a 20% weight, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 1.1 times any basket gain. Investors will receive par if the basket declines by up to 10% and will have 1-to-1 exposure to any declines beyond 10%.
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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Basket components: | S&P 500 index, 50% weight; Euro Stoxx 50 index, 30% weight; and Russell 2000 index, 20% weight
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Amount: | $383,000
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Maturity: | June 28, 2019
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If basket return is positive, par plus 1.1 times return; par if basket falls by up to 10%; 1% loss for every 1% decline in basket beyond 10%
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Initial index levels: | 2,000.54 for S&P, 2,697.44 for Stoxx and 1,089.646 for Russell
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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: | None
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Cusip: | 40433UPC4
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