Published on 7/31/2017 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $39,000 income plus notes with 5.5% potential coupon
By Marisa Wong
Morgantown, W.Va., July 31 – HSBC USA Inc. priced $39,000 of income plus notes due July 29, 2024 linked to five common stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The underlying companies are Apple Inc., Boeing Co., Ford Motor Co., Eli Lilly and Co. and Verizon Communications
Interest is payable annually. The interest rate will be 1.5% plus (a) 4% if each basket stock closes at or above its initial share price on the valuation date for that year or (b) 0% otherwise.
The payout at maturity will be par plus the final coupon.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Income plus notes
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Underlying stocks: | Apple Inc. (Nasdaq: AAPL), Boeing Co. (NYSE: BA), Ford Motor Co. (NYSE: F), Eli Lilly and Co. (NYSE: LLY) and Verizon Communications (NYSE: VZ)
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Amount: | $39,000
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Maturity: | July 29, 2024
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Coupon: | 1.5% plus (a) 4% if each basket stock closes at or above its initial share price on the valuation date for that year or (b) 0% otherwise; payable annually
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Price: | Par
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Payout at maturity: | Par plus final coupon
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Initial levels: | $152.09 for Apple, $212.18 for Boeing, $11.29 for Ford, $84.74 for Eli Lilly, $43.71 for Verizon
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Pricing date: | July 24
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Settlement date: | July 27
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 3.75%
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Cusip: | 40435FBC0
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