Published on 10/25/2016 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $8.88 million buffered participation notes tied to S&P 500
By Marisa Wong
Morgantown, W.Va., Oct. 25 – HSBC USA Inc. priced $8.88 million of 0% buffered participation securities due Jan. 25, 2018 linked to the S&P 500 index, according to a 424B2 with the Securities and Exchange Commission.
The payout at maturity will be par plus any index gain, subject to a maximum return of 8%.
Investors will receive par if the index falls by up to 10% and will lose 1% for every 1% decline beyond the 10% buffer.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
|
Issue: | Buffered participation securities
|
Underlying index: | S&P 500
|
Amount: | $8,876,500
|
Maturity: | Jan. 25, 2018
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | Par plus any index gain, subject to a maximum return of 8%; par if the index falls by up to 10%; 1% loss for every 1% decline beyond the 10% buffer
|
Initial index level: | 2,141.16
|
Pricing date: | Oct. 21
|
Settlement date: | Oct. 26
|
Agent: | HSBC Securities (USA) Inc.
|
Fees: | 2.13%
|
Cusip: | 40435B528
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.