Published on 6/15/2018 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $1.61 million buffered market participation notes on Financial Select ETF
New York, June 15 – HSBC USA Inc. priced $1.61 million of 0% buffered market participation securities due Sept. 18, 2019 linked to the Financial Select Sector SPDR exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus any ETF gain, up to a cap of par plus 11.3%.
Investors will receive par if the ETF falls by up to 10% and will lose 1% for every 1% decline beyond the buffer.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Buffered market participation securities
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Underlying ETF: | Financial Select Sector SPDR
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Amount: | $1,605,000
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Maturity: | Sept. 18, 2019
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus index gain, capped at 11.3%; par if index falls by up to 10%, otherwise 1% loss for each 1% decline beyond 10%
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Initial level: | $27.85
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Pricing date: | June 13
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Settlement date: | June 18
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 1.275%
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Cusip: | 40435FB55
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