Published on 7/19/2016 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $4.54 million 1% buffered income securities linked to S&P 500
By Angela McDaniels
Tacoma, Wash., July 19 – HSBC USA Inc. priced $4.54 million of 1% buffered income securities with upside participation due July 20, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable annually.
The payout at maturity will be par plus 150% of any gain in the index, subject to a maximum payout of $14.90 per $10.00 principal amount of notes. If the index declines by up to 15%, the payout will be par. Investors will be exposed to any loss in the index beyond 15%.
HSBC Securities (USA) Inc. is the agent, and Morgan Stanley Wealth Management is distributor.
Issuer: | HSBC USA Inc.
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Issue: | Buffered income securities with upside participation
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Underlying index: | S&P 500
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Amount: | $4,539,00
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Maturity: | July 20, 2021
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Coupon: | 1%, payable annually
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Price: | Par
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Payout at maturity: | Par plus 150% of any gain in index, subject to 49% maximum return; par If index declines by up to 15%; 1% loss for every 1% that index may decline beyond 15%
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Initial index level: | 2,161.74
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Pricing date: | July 15
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Settlement date: | July 20
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Agent: | HSBC Securities (USA) Inc.
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Distributor: | Morgan Stanley Wealth Management
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Fees: | 3.5%
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Cusip: | 40434V525
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