Published on 2/28/2018 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $11.46 million one-year Stars linked to S&P 500
By Marisa Wong
Morgantown, W.Va., Feb. 28 – HSBC USA Inc. priced $11.46 million of 0% Strategic Accelerated Redemption Securities due March 8, 2019 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange.
After six months, if the index closes at or above its initial level on any quarterly observation date, the notes will be automatically called at par plus an annualized call premium of 9.1%.
If the notes are not called, investors will be exposed to any index decline.
BofA Merrill Lynch is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Strategic Accelerated Redemption Securities
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Underlying index: | S&P 500
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Amount: | $11,455,970
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Maturity: | March 8, 2019
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If the notes are not called, investors will be exposed to any index decline
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Call: | Automatically at par plus an annualized call premium of 9.1% if the index closes at or above its initial level on any quarterly observation date after six months
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Initial level: | 2,703.96
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Pricing date: | Feb. 22
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Settlement date: | March 1
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Agent: | BofA Merrill Lynch
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Fees: | 1.25%
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Cusip: | 40435M201
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