Published on 8/16/2018 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $532,000 buffered market participation notes on gold fund
By Sarah Lizee
Olympia, Wash., Aug. 16 – HSBC USA Inc. priced $532,000 of 0% Buffered Market Participation Securities due Nov. 18, 2019 linked to the Market Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus any fund gain, subject to a maximum return of 18%. Investors will receive par if the fund falls by up to 10% and will lose 1% for every 1% decline beyond the 10% buffer.
HSBC Securities (USA) Inc. is the underwriter.
Issuer: | HSBC USA Inc.
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Issue: | Buffered Market Participation Securities
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Underlying fund: | Market Vectors Gold Miners
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Amount: | $532,000
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Maturity: | Nov. 18, 2019
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus any fund gain, up to 18% cap; par if fund declines by 10% or less; 1% loss per 1% drop beyond 10%
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Initial price: | $19.77
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Pricing date: | Aug. 14
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Settlement date: | Aug. 17
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 1.275%
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Cusip: | 40435FQ83
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