Published on 11/29/2016 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $42.17 million capped leveraged notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., Nov. 29 – HSBC USA Inc. priced $42.17 million of 0% capped Leveraged Index Return Notes due Nov. 21, 2018 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par of $10 plus 200% of the index return, subject to a maximum return of 14.54%. Investors will receive par if the index declines by 10% or less and will lose 1% for every 1% that it may decline beyond 10%.
BofA Merrill Lynch is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Capped Leveraged Index Return Notes
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Underlying index: | S&P 500
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Amount: | $42,171,520
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Maturity: | Nov. 21, 2018
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If index return is positive, par plus 200% of index return, up to 14.54% maximum return; par if index declines by 10% or less; 1% loss for every 1% that index may decline beyond 10%
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Initial index level: | 2,202.94
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Threshold value: | 1,982.65, 90% of initial level
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Final index level: | Average of index’s closing levels on five trading days ending Nov. 16, 2018
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Pricing date: | Nov. 22
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Settlement date: | Nov. 30
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Underwriter: | BofA Merrill Lynch
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Fees: | 2%
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Cusip: | 40435B346
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