Published on 1/3/2017 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $171.56 million Accelerated Return Notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., Jan. 3 – HSBC USA Inc. priced $171.56 million of 0% Accelerated Return Notes due Feb. 23, 2018 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus triple any index gain, up to a maximum return of 11.595%. Investors will be exposed to any index decline.
BofA Merrill Lynch is the underwriter.
Issuer: | HSBC USA Inc.
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Issue: | Accelerated Return Notes
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Underlying index: | S&P 500
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Amount: | $171,563,870
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Maturity: | Feb. 23, 2018
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 300% of any index gain, capped at 11.595%; exposure to any index decline
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Initial level: | 2,249.26
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Final index level: | Average of index’s closing levels on five trading days ending Feb. 20, 2018
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Pricing date: | Dec. 29
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Settlement date: | Jan. 6
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Underwriters: | BofA Merrill Lynch
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Fees: | 2%
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Cusip: | 40435B213
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