Published on 9/22/2016 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $2 million buffered market participation notes on S&P 500
By Susanna Moon
Chicago, Sept. 22 – HSBC USA Inc. priced $2 million of 0% buffered market participation securities with a cap due Sept. 24, 2018 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 plus any gain, up to a maximum payout of 13%.
Investors will receive par if the index falls by up to 20% and will lose 1% for every 1% decline beyond the buffer.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Buffered market participation securities
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Underlying index: | S&P 500
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Amount: | $2 million
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Maturity: | Sept. 24, 2018
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus index gain, capped at 13%; par if index falls by up to 20%, otherwise 1% loss for each 1% decline beyond 20%
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Initial level: | 2,139.76
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Pricing date: | Sept. 20
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Settlement date: | Sept. 23
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 0.94%
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Cusip: | 40433UVF0
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