Published on 2/26/2018 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $37.07 million Accelerated Return Notes on Apple
By Marisa Wong
Morgantown, W.Va., Feb. 26 – HSBC USA Inc. priced $37.07 million of 0% Accelerated Return Notes due April 26, 2019 linked to the common stock of Apple Inc., according to a 424B2 filing with the Securities and Exchange.
The payout at maturity will be par of $10 plus triple any share price gain, up to a maximum return of 21.6%.
Investors will be exposed to any losses.
BofA Merrill Lynch is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Accelerated Return Notes
|
| Underlying stock: | Apple Inc. (Symbol: AAPL)
|
| Amount: | $37,067,400
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| Maturity: | April 26, 2019
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| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus triple any share price gain, capped at 21.6%; 1% loss for each 1% decline
|
| Initial price: | $172.95
|
| Pricing date: | Feb. 22
|
| Settlement date: | March 1
|
| Agent: | BofA Merrill Lynch
|
| Fees: | 2%
|
| Cusip: | 40435J133
|
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