Published on 7/26/2016 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $4.2 million five-year market plus notes linked to S&P 500
By Susanna Moon
Chicago, July 26 – HSBC USA Inc. priced $4.2 million of 0% market plus notes due July 27, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above the 70% knockout level, the payout at maturity will be par plus the greater of 1.5 times any index gain and zero.
Otherwise, investors will be fully exposed to any losses.
HSBC Securities (USA) Inc. is the agent. J.P. Morgan Securities LLC is the placement agent.
Issuer: | HSBC USA Inc.
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Issue: | Market plus notes
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Underlying index: | S&P 500
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Amount: | $4,204,000
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Maturity: | July 27, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index finishes at or above the 70% knockout level, par plus the greater of 1.5 times any index gain and zero; otherwise, full exposure to any losses
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Initial level: | 2,175.03
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Knock-out buffer: | 30%
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Pricing date: | July 22
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Settlement date: | July 27
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Agent: | HSBC Securities (USA) Inc. with J.P. Morgan Securities LLC as placement agent
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Fees: | 3%
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Cusip: | 40433URV0
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