Published on 10/7/2016 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $695,000 seven-year averaging notes linked to Dow
By Angela McDaniels
Tacoma, Wash., Oct. 7 – HSBC USA Inc. priced $695,000 of 0% averaging notes due Oct. 2, 2023 linked to the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus the greater of the index return and 2%.
The index’s final level will be the average of its closing levels on 28 quarterly observation dates.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Averaging notes
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Underlying index: | Dow Jones industrial average
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Amount: | $695,000
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Maturity: | Oct. 2, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus greater of index return and 2%; index’s final level will be average of index’s closing levels on 28 quarterly observation dates
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Initial level: | 18,228.3
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Pricing date: | Sept. 27
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Settlement date: | Sept. 30
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Underwriter: | HSBC Securities (USA) Inc.
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Fees: | 3.75%
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Cusip: | 40433UUA2
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