Published on 4/6/2017 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $1.1 million buffered market participation notes on S&P 500
By Marisa Wong
Morgantown, W.Va., April 6 – HSBC USA Inc. priced $1.1 million of 0% buffered market participation securities due July 2, 2018 tied 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 any index gain, capped at 8%.
Investors will receive par if the index falls by up to 10% and will lose 1% for each 1% decline beyond 10%.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Buffered market participation securities
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Underlying index: | S&P 500
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Amount: | $1,098,000
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Maturity: | July 2, 2018
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus any index gain, capped at 8%; par if index falls by up to 10%; 1% loss for each 1% decline beyond 10%
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Initial level: | 2,358.57
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Pricing date: | March 28
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Settlement date: | March 31
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 1.275%
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Cusip: | 40433UW36
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