Published on 10/18/2016 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $904,000 market plus notes linked to S&P 500 index
By Devika Patel
Knoxville, Tenn., Oct. 18 – HSBC USA Inc. priced $904,000 of 0% market plus notes due April 18, 2018 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above the 80.5% knockout level, the payout at maturity will be par plus the greater of any index gain and zero.
Otherwise, investors will lose 1% for each 1% decline.
JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the agents.
Issuer: | HSBC USA Inc.
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Issue: | Market plus notes
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Underlying index: | S&P 500
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Amount: | $904,000
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Maturity: | April 18, 2018
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index finishes at or above the 80.5% knockout level, par plus the greater of any index gain and zero; otherwise, 1% loss for each 1% decline
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Initial level: | 2,132.98
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Knock-out buffer: | 19.5%
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Pricing date: | Oct. 14
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Settlement date: | Oct. 19
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Agents: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
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Fees: | 1.25%
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Cusip: | 40433UXT8
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