Published on 1/5/2017 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $19.22 million market plus notes linked to S&P 500 index
By Marisa Wong
Morgantown, W.Va., Jan. 5 – HSBC USA Inc. priced $19.22 million of 0% market plus notes due July 9, 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 plus the greater of the index return and zero unless the index finishes below its initial level by more than 22.25%, in which case investors will be fully exposed to the decline.
HSBC Securities (USA) Inc. is the agent. JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are placement agents.
Issuer: | HSBC USA Inc.
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Issue: | Market plus notes
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Underlying index: | S&P 500
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Amount: | $19.22 million
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Maturity: | July 9, 2018
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus greater of index return and zero unless index falls by more than knock-out buffer, in which case full exposure to any losses
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Initial level: | 2,270.75
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Knock-out buffer: | 22.25%
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Pricing date: | Jan. 4
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Settlement date: | Jan. 9
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Agent: | HSBC Securities (USA) Inc. with JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC as placement agents
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Fees: | 0.6%
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Cusip: | 40433UK96
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