Published on 8/28/2017 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $7.64 million of Accelerated Return Notes tied to S&P 500
By Susanna Moon
Chicago, Aug. 28 – HSBC USA Inc. priced $7.64 million of 0% Accelerated Return Notes due Aug. 30, 2019 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange The payout at maturity will be par of $10 plus triple any index gain, up to a maximum return of 15.12%.
Investors will be exposed to any losses.
BofA Merrill Lynch is the agent.
BMO Capital Markets Corp. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Accelerated Return Notes
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Underlying index: | S&P 500
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Amount: | $7,642,420
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Maturity: | Aug. 30, 2019
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus triple any index gain, capped at 15.12%; 1% loss for each 1% decline
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Initial level: | 2,438.97
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Pricing date: | Aug. 24
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Settlement date: | Aug. 31
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Agent: | BofA Merrill Lynch
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Fees: | 2%
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Cusip: | 40435G790
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