Published on 6/6/2018 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $3 million digital notes tied to four emerging markets currencies
By Wendy Van Sickle
Columbus, Ohio, June 6 – HSBC USA Inc. priced $3 million of 0% digital notes due June 1, 2021 linked to a basket of four currencies, according to a 424B2 filing with the Securities and Exchange Commission.
The basket is made up of the Brazilian real, the Russian ruble, the Indian rupee and the Chinese renminbi, each relative to the dollar and each with an equal weight.
If the basket return is positive, the payout at maturity will be par plus 26.8%.
Otherwise the payout will be par.
HSBC Securities (USA) Inc. is the agent with JPMorgan as placement agent.
Issuer: | HSBC USA Inc.
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Issue: | Digital notes
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Underlying basket: | Brazilian real, Russian ruble, Indian rupee and Chinese renminbi, each relative to the dollar and each with 25% weight
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Amount: | $3 million
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Maturity: | June 1, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If basket finishes above initial level, par plus 26.8%; otherwise, par
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Initial spot rate: | 3.6587 for real, 61.628 for ruble, 68.26 for rupee, 6.3815 for renminbi
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Pricing date: | May 25
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Settlement date: | May 31
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Agent: | HSBC Securities (USA) Inc. with JPMorgan as placement agent
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Fees: | 2%
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Cusip: | 40435FF69
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