Published on 8/2/2016 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $966,000 seven-year averaging notes linked to the Dow
By Marisa Wong
Morgantown, W.Va., Aug. 2 – HSBC USA Inc. priced $966,000 of 0% averaging notes due July 31, 2023 linked to the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus the index return, subject to a minimum return of 4%.
The index’s final level will be the average of its closing levels on 28 quarterly observation dates.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Averaging notes
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Underlying index: | Dow Jones industrial average
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Amount: | $966,000
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Maturity: | July 31, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus index return, subject to minimum return of 4%
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Initial level: | 18,473.75
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Final level: | Average of closing levels on 28 quarterly observation dates
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Pricing date: | July 26
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Settlement date: | July 29
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Underwriter: | HSBC Securities (USA) Inc.
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Fees: | 3.9%
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Cusip: | 40433UQZ2
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