Published on 10/17/2016 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $980,000 leveraged capped notes linked to S&P 500
By Susanna Moon
Chicago, Oct. 17 – HSBC USA Inc. priced $980,000 of leveraged notes due April 6, 2018 linked to the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.
The payout at maturity will be par plus triple any index gain, up to a maximum settlement amount of $1,225 per $1,000 of notes.
Investors will be exposed to any losses.
HSBC Securities (USA) Inc. is the underwriter.
Issuer: | HSBC USA Inc.
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Issue: | Leveraged capped notes
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Underlying index: | S&P 500
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Amount: | $980,000
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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: | Par plus 300% of any index gain, capped at 22.5%; exposure to any losses
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Initial level: | 2,132.55
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Pricing date: | Oct. 13
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Settlement date: | Oct. 20
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Underwriters: | HSBC Securities (USA) Inc.
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Fees: | None
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Cusip: | 40433UXP6
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