New Issue: HSBC prices $775,000 lookback notes linked to SPDR S&P Bank ETF

By Angela McDaniels

Tacoma, Wash., July 24 – HSBC USA Inc. priced $775,000 of 0% lookback return enhanced notes due Aug. 8, 2018 linked to the SPDR S&P Bank exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

If the ETF’s final share price is greater than the initial share price, the payout at maturity will be par plus 150% of the gain, up to a maximum return of 17.475%. Investors are fully exposed to any decline in the ETF.

The initial share price will be the ETF’s lowest closing share price during the observation period of July 21, July 24, July 25, July 26, July 27 and July 28.

HSBC Securities (USA) Inc. is the underwriter. JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the agents.

Issuer:	HSBC USA Inc.
Issue:	Lookback return enhanced notes
Underlying ETF:	SPDR S&P Bank ETF
Amount:	$775,000
Maturity:	Aug. 8, 2018
Coupon:	0%
Price:	Par
Payout at maturity:	If final share price is greater than initial share price, par plus 150% of ETF’s return, up to 17.475% maximum return; full exposure to any decline in ETF
Initial share price:	Lowest closing share price on July 21, July 24, July 25, July 26, July 27 and July 28
Pricing date:	July 21
Settlement date:	July 26
Underwriter:	HSBC Securities (USA) Inc.
Agents:	JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
Fees:	1%
Cusip:	40435FCK1

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.