Published on 11/27/2017 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $7.46 million market-linked step-up notes tied to S&P 500
By Wendy Van Sickle
Columbus, Ohio, Nov. 27 – HSBC USA Inc. priced $7.46 million of 0% market-linked step-up notes due Nov. 22, 2019 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes above the step-up level – 109.5% of the initial level – the payout at maturity will be par of $10 plus the index gain.
If the index gains by up to the step-up level, the payout will be par plus the step-up payment of 9.5%.
Investors will be exposed to any losses.
BofA Merrill Lynch is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Market-linked step-up notes
|
| Underlying index: | S&P 500
|
| Amount: | $7,457,420
|
| Maturity: | Nov. 22, 2019
|
| Coupon: | 0%
|
| Price: | Par of $10.00
|
| Payout at maturity: | If the index finishes above the step-up level, par plus the index gain; if the index gains up to the step-up level, par plus 9.5%; exposure to any decline
|
| observation date
|
| Initial level: | 2,599.03
|
| Step-up value: | 2,845.94, 109.5% of initial level
|
| Pricing date: | Nov. 21
|
| Settlement date: | Nov. 29
|
| Underwriter: | BofA Merrill Lynch
|
| Fees: | 2%
|
| Cusip: | 40435G675
|
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|
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