Published on 11/7/2016 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $830,000 contingent buffered notes linked to oil & gas ETF
By Marisa Wong
Morgantown, W.Va., Nov. 7 – HSBC USA Inc. priced $830,000 of 0% contingent buffered notes due Nov. 15, 2017 linked to the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus a digital return of 8.75% unless the ETF share price falls by more than 35%, in which case the payout will be par plus the ETF return with full exposure to losses.
HSBC Securities (USA) Inc. is the underwriter with JPMorgan Chase Bank NA and J.P. Morgan Securities LLC as placement agents.
Issuer: | HSBC USA Inc.
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Issue: | Barrier enhanced participation notes
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Underlying ETF: | SPDR S&P Oil & Gas Exploration & Production ETF
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Amount: | $830,000
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Maturity: | Nov. 15, 2017
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 8.75% unless the ETF falls by more than 35%, in which case par plus the ETF return with full exposure to losses
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Initial price: | $36.20
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Pricing date: | Oct. 28
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Settlement date: | Nov. 2
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Underwriter: | HSBC Securities (USA) Inc. with JPMorgan Chase Bank NA and J.P. Morgan Securities LLC as placement agents
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Fees: | 1%
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Cusip: | 40433UZJ8
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