Published on 2/27/2017 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $98.67 million of Accelerated Return Notes tied to S&P 500
By Devika Patel
Knoxville, Tenn., Feb. 27 – HSBC USA Inc. priced $98.67 million of 0% Accelerated Return Notes due April 27, 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, subject to a maximum payout of 10.32%. If the index falls, investors will lose 1% for each 1% decline.
Merrill Lynch & Co. is the agent.
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: | $98,665,370
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Maturity: | April 27, 2018
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus triple any index gain, up to 10.32% maximum payout; 1% loss for each 1% decline
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Initial index level: | 2,363.81
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Pricing date: | Feb. 23
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Settlement date: | March 2
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Agent: | Merrill Lynch & Co.
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Fees: | 2%
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Cusip: | 40435C476
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