Published on 10/25/2016 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $871,000 digital barrier notes tied to S&P 500
By Marisa Wong
Morgantown, W.Va., Oct. 25 – HSBC USA Inc. priced $871,000 of 0% digital barrier notes due Oct. 28, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is zero or positive, the payout will be par plus the greater of the index return and the minimum upside return of 52%.
If the index falls by up to 30%, the payout will be par.
If the index falls by more than 30%, investors will be fully exposed to the decline.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Digital barrier notes
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Underlying index: | S&P 500
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Amount: | $871,000
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Maturity: | Oct. 28, 2022
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Coupon: | 0%
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Price: | Par of $1,000
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Payout at maturity: | If the index return is zero or positive, par plus the greater of the index return and 52%; if the index falls by up to 30%, par; otherwise, full exposure to any index decline
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Initial level: | 2,141.16
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Pricing date: | Oct. 21
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Settlement date: | Oct. 28
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 3.25%
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Cusip: | 40433UVW3
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