Published on 4/6/2017 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $1.37 million leveraged buffered uncapped notes on S&P 500
By Marisa Wong
Morgantown, W.Va., April 6 – HSBC USA Inc. priced $1.37 million of 0% leveraged buffered uncapped market participation securities due March 31, 2021 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 1.15 times any index gain.
Investors will receive par if the index falls by up to 15% and will lose 1% for each 1% decline beyond 15%.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Leveraged buffered uncapped market participation securities
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Underlying index: | S&P 500
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Amount: | $1,369,000
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Maturity: | March 31, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.15 times any index gain; par if index falls by up to 15%; 1% loss for each 1% decline beyond 15%
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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: | 0.5%
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Cusip: | 40433UU87
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