Published on 2/23/2017 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $1.5 million 8.4% coupon barrier notes tied to Gold Miners
By Susanna Moon
Chicago, Feb. 23 – HSBC USA Inc. priced $1.5 million 8.4% fixed coupon barrier notes due Feb. 24, 2020 linked to the Market Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The payout at maturity will be par unless the fund finishes below its 70% trigger level, in which case investors will be fully exposed to any losses.
HSBC USA Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Fixed coupon barrier notes
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Underlying fund: | Market Vectors Gold Miners ETF
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Amount: | $1.5 million
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Maturity: | Feb. 24, 2020
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Coupon: | 8.4%, payable quarterly
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Price: | Par
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Payout at maturity: | Par unless fund finishes below 70% trigger level, in which case full exposure to any losses
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Initial level: | $24.79
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Trigger level: | $17.353, 70% of initial level
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Pricing date: | Feb. 17
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Settlement date: | Feb. 24
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Underwriter: | HSBC USA Inc.
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Fees: | 1.5%
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Cusip: | 40435C138
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