Published on 8/31/2016 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $1.92 million leveraged buffered uncapped notes on low volatility ETF
By Wendy Van Sickle
Columbus, Ohio, Aug. 31 – HSBC USA Inc. priced $1.92 million of 0% leveraged buffered uncapped market participation securities due Aug. 30, 2019 linked to the PowerShares S&P 500 Low Volatility Portfolio exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 1.05 times any ETF gain. Investors will receive par if the ETF declines by 11% or less and will be exposed to any declines beyond 11%.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Leveraged buffered uncapped market participation securities
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Underlying ETF: | PowerShares S&P 500 Low Volatility Portfolio ETF
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Amount: | $1,916,000
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Maturity: | Aug. 30, 2019
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.05 times any fund gain; par if fund falls by up to 11%; 1% loss for every 1% decline beyond 11%
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Initial price: | $41.80
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Pricing date: | Aug. 26
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Settlement date: | Aug. 31
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Underwriters: | HSBC Securities (USA) Inc.
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Fees: | None
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Cusip: | 40433USN7
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