Published on 8/29/2016 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $57.74 million leveraged notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., Aug. 29 – HSBC USA Inc. priced $57.74 million of 0% Leveraged Index Return Notes due Aug. 27, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par of $10 plus 124.4% of the index return. Investors will receive par if the index declines by 20% or less and will lose 1% for every 1% that it declines beyond 20%.
BofA Merrill Lynch is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Leveraged Index Return Notes
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Underlying index: | S&P 500
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Amount: | $57,742,030
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Maturity: | Aug. 27, 2021
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If index return is positive, par plus 124.4% of index return; par if index declines by 20% or less; 1% loss for every 1% that index declines beyond 20%
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Initial index level: | 2,172.47
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Threshold value: | 1,737.98, % of initial level
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Final index level: Average of index’s closing levels on five trading days ending Aug. 24, 2021
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Pricing date: | Aug. 25
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Settlement date: | Sept. 1
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Underwriter: | BofA Merrill Lynch
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Fees: | 2.5%
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Cusip: | 40434V319
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