Published on 10/3/2016 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $10.85 million buffered uncapped market participation notes on S&P 500
New York, Oct. 3 – HSBC USA Inc. priced $10.85 million of 0% buffered uncapped market participation securities due Sept. 30, 2021 tied 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 plus 100% of the index return. Investors will receive par if the index falls by up to 25% and lose 1% for every 1% decline in the index beyond 25%.
HSBC Securities (USA) Inc. is the underwriter.
Issuer: | HSBC USA Inc.
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Issue: | Buffered uncapped market participation securities
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Underlying index: | S&P 500 Index
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Amount: | $10,847,000
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Maturity: | Sept. 30, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index return is positive, par plus 100% of the index return; par if index falls by up to 25%; 1% loss for every 1% decline in index beyond 25%
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Initial index level: | 2,159.93
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Pricing date: | Sept. 27
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Settlement date: | Sept. 30
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Underwriters: | HSBC Securities (USA) Inc.
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Fees: | 3.75%
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Cusip: | 40433UUJ3
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