Published on 7/19/2016 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $1.86 million leveraged capped notes linked to S&P 500
By Marisa Wong
Morgantown, W.Va., July 19 – HSBC USA Inc. priced $1.86 million of 0% leveraged capped notes due Jan. 8, 2018 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 triple any index gain, up to a maximum payment amount of $1,220.50 for each $1,000 principal amount.
Investors will be fully exposed to any losses.
HSBC Securities (USA) Inc. is the underwriter.
Issuer: | HSBC USA Inc.
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Issue: | Leveraged capped notes
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Underlying index: | S&P 500
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Amount: | $1,855,000
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Maturity: | Jan. 8, 2018
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Coupon: | 0%
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Price: | Par of $1,000
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Payout at maturity: | Par plus triple any index gain, capped at 22.05%; full exposure to losses
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Initial level: | 2,161.74
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Pricing date: | July 15
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Settlement date: | July 22
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Agent: | HSBC Securities (USA) Inc.
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Fees: | None
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Cusip: | 40433URM0
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