Published on 6/28/2017 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $1.28 million return enhanced notes on SPDR S&P Bank ETF
By Marisa Wong
Morgantown, W.Va., June 28 – HSBC USA Inc. priced $1.28 million of 0% return enhanced notes due July 11, 2018 linked to the SPDR S&P Bank exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the fund return is positive, the payout at maturity will be par plus double the fund gain, subject to a maximum return of 20%.
Investors will be fully exposed to any losses.
HSBC Securities (USA) Inc. is the agent. JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC will act as placement agents.
Issuer: | HSBC USA Inc.
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Issue: | Return enhanced notes
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Underlying ETF: | SPDR S&P Bank ETF
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Amount: | $1.28 million
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Maturity: | July 11, 2018
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index return is positive, par plus 2 times index gain, return capped at 20%; if index return is negative, one-to-one exposure to decline
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Initial price: | $41.92
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Final price: | Average of closing prices on five trading days ending July 6, 2018
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Pricing date: | June 23
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Settlement date: | June 28
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Agent: | HSBC Securities (USA) Inc. with JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC as placement agents
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Fees: | 1%
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Cusip: | 40435FAM9
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