Published on 10/17/2016 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $9.9 million digital notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., Oct. 17 – HSBC USA Inc. priced $9.9 million of 0% digital notes due April 6, 2018 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is greater than or equal to negative 10%, the payout at maturity will be $1,112 per $1,000 principal amount of notes. Otherwise, investors will lose 1.1111% for every 1% that the index declines beyond 10%.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Digital notes
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Underlying index: | S&P 500
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Amount: | $9,901,000
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Maturity: | April 6, 2018
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index return is greater than or equal to negative 10%, $1,112 per $1,000 principal amount of notes; otherwise, 1.1111% loss for every 1% that index declines beyond 10%
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Initial index level: | 2,132.55
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Pricing date: | Oct. 13
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Settlement date: | Oct. 20
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Agent: | HSBC Securities (USA) Inc.
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Fees: | None
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Cusip: | 40433UXQ4
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