Published on 7/10/2017 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $5.37 million five-year buffered uncapped notes on S&P 500
By Marisa Wong
Morgantown, W.Va., July 10 – HSBC USA Inc. priced $5.37 million of 0% buffered uncapped market participation securities due June 30, 2022 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.
Investors will receive par if the index falls by up to 23% and will lose 1% for each 1% decline beyond 23%.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Buffered uncapped market participation securities
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Underlying index: | S&P 500
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Amount: | $5,369,000
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Maturity: | June 30, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus any index gain; par if index falls by up to 23%; 1% loss for each 1% decline beyond 23%
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Initial level: | 2,419.38
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Pricing date: | June 27
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Settlement date: | June 30
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 3.75%
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Cusip: | 40433U6B7
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