Published on 2/2/2018 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $35.43 million leveraged market-linked step-up notes on Euro Stoxx 50
By Marisa Wong
Morgantown, W.Va., Feb. 2 – HSBC USA Inc. priced $35,433,970 of 0% leveraged market-linked step-up notes due July 30, 2020 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above the step-up level – 142% of the initial level – the payout at maturity will be par plus 130% of 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 42%.
Investors will be fully exposed to any index decline.
BofA Merill Lynch is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Leveraged market-linked step-up notes
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Underlying index: | Euro Stoxx 50
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Amount: | $35,433,970
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Maturity: | July 30, 2020
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If the index finishes at or above the step-up level, par plus 130% of the index gain; if the index gains by up to the step-up level, par plus 42%; otherwise, full exposure to losses
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Initial index level: | 3,630.15
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Step-up level: | 5,154.81, 142% of initial level
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Pricing date: | Jan. 25
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Settlement date: | Feb. 1
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Agent: | BofA Merill Lynch
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Fees: | 2%
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Cusip: | 40435J646
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