Published on 8/29/2016 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $134.79 million Accelerated Return Notes linked to S&P 500 index
By Wendy Van Sickle
Columbus, Ohio, Aug. 29 – HSBC USA Inc. priced $134.79 million of 0% Accelerated Return Notes due Oct. 27, 2017 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 of $10 plus 300% of any index gain, subject to a maximum return of 11.76%. Investors will be exposed to any index decline.
BofA Merrill Lynch is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Accelerated Return Notes
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Underlying index: | S&P 500
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Amount: | $134,787,360
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Maturity: | Oct. 27, 2017
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 300% of any index gain, capped at 11.76%; exposure to any index decline
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Initial level: | 2,172.47
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Final index level: | Average of index’s closing levels on five trading days ending Oct. 24, 2017
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Pricing date: | Aug. 25
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Settlement date: | Sept. 1
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Underwriters: | BofA Merrill Lynch
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Fees: | 2%
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Cusip: | 40434V343
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