Published on 10/3/2018 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $3.14 million 9.85% income barrier notes tied to Amazon
By Sarah Lizee
Olympia, Wash., Oct. 3 – HSBC USA Inc. priced $3.14 million of 9.85% income barrier notes due Oct. 3, 2019 linked to Amazon.com, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The payout at maturity will be par unless the underlying stock finishes below its 80% barrier level, in which case investors will be fully exposed to any losses.
HSBC Securities (USA) Inc. is the underwriter.
Issuer: | HSBC USA Inc.
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Issue: | Income barrier notes
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Underlying stock: | Amazon.com, Inc.
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Amount: | $3,138,000
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Maturity: | Oct. 3, 2019
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Coupon: | 9.85% per year, payable quarterly
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Price: | Par
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Payout at maturity: | Par unless stock finishes below 80% barrier level, in which case full exposure to losses
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Initial price: | $2,003.00
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Barrier price: | $1,602.40, 80% of initial price
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Pricing date: | Sept. 28
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Settlement date: | Oct. 3
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 1.625%
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Cusip: | 40435X249
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