Published on 4/18/2017 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $2.74 million barrier enhanced participation notes tied to S&P, Russell
By Marisa Wong
Morgantown, W.Va., April 18 – HSBC USA Inc. priced $2.74 million of 0% barrier enhanced participation notes due April 12, 2021 linked to the Russell 200 index and the S&P 500 index, according to a 414B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 1.75 times any gain of the lesser performing index.
Investors will receive par if the lesser-performing index falls by up to 40% and will be fully exposed to the decline of the lesser performing index if it finishes below the 60% barrier level.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Barrier enhanced participation notes
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Underlying indexes: | S&P 500, Russell 2000
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Amount: | $2,739,000
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Maturity: | April 12, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.75 times any gain of the lesser performing index; par if the lesser-performing index falls by up to 40%; full exposure to the decline of the lesser performing index if it finishes below the 60% barrier level
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Initial levels: | 2,352.95 for S&P, 1,352.143 for Russell
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Pricing date: | April 5
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Settlement date: | April 10
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 0.25%
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Cusip: | 40433U2Y1
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