Published on 2/28/2017 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $24.99 million of Accelerated Return Notes on index basket
By Wendy Van Sickle
Columbus, Ohio, Feb. 28 – HSBC USA Inc. priced $24.99 million of 0% Accelerated Return Notes due April 27, 2018 linked to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket components are the Euro Stoxx 50 index with a 40% weight, the FTSE 100 index with a 20% weight, the Nikkei Stock Average index with a 20% weight, the Swiss Market index with a 7.5% weight, the S&P/ASX 200 index with a 7.5% weight and the Hang Seng index with a 5% weight.
The payout at maturity will be par of $10 plus triple any basket gain, subject to a maximum payout of 17.98%. If the basket falls, investors will lose 1% for each 1% decline.
Merrill Lynch & Co. is the agent.
Issuer: | HSBC USA Inc.
|
Issue: | Accelerated Return Notes
|
Underlying indexes: | Euro Stoxx 50 (40% weight), FTSE 100 (20% weight), Nikkei Stock Average (20% weight), Swiss Market (7.5% weight), S&P/ASX 200 (7.5% weight) and Hang Seng (5% weight)
|
Amount: | $24,992,450
|
Maturity: | April 27, 2018
|
Coupon: | 0%
|
Price: | Par of $10
|
Payout at maturity: | Par plus triple any basket gain, up to 17.98% maximum payout; 1% loss for each 1% decline
|
Pricing date: | Feb. 23
|
Settlement date: | March 2
|
Agent: | Merrill Lynch & Co.
|
Fees: | 2%
|
Cusip: | 40435C419
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.