Published on 7/16/2018 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $390,000 buffered market participation notes on Gold Miners
By Sarah Lizee
Olympia, Wash., July 16 – HSBC USA Inc. priced $390,000 of 0% buffered market participation securities due Oct. 17, 2019 linked to the Market Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus any fund gain, up to a cap of par plus 17%.
Investors will receive par if the fund 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: | Market Vectors Gold Miners ETF
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Amount: | $390,000
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Maturity: | Oct. 17, 2019
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus fund gain, capped at 17%; par if fund falls by up to 10%, otherwise 1% loss for each 1% decline beyond 10%
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Initial level: | $22.14
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Pricing date: | July 12
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Settlement date: | July 17
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 1.275%
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Cusip: | 40435FH67
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