Published on 10/11/2018 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $28.19 million Leveraged Index Return Notes on the Dow
By Wendy Van Sickle
Columbus, Ohio, Oct. 11 – HSBC USA Inc. priced $28.19 million of 0% Leveraged Index Return Notes due Sept. 29, 2023 linked to the Dow Jones industrial average, according to a 424B2 filed with the Securities and Exchange Commission.
The payout at maturity will be par plus 1.111 times any index gain.
Investors will receive par if the index falls by up to 20% and will lose 1% for every 1% decline beyond 20%.
BofA Merrill Lynch is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Leveraged Index Return Notes
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Underlying index: | Dow Jones industrial average
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Amount: | $28,194,480
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Maturity: | Sept. 29, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 111.1% of any index gain; par if index falls by up to 20%; 1% loss for every 1% decline beyond 20%
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Initial value: | 26,439.93
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Threshold value: | 21,151.94, 80% of initial value
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Pricing date: | Sept. 27
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Settlement date: | Oct. 4
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Agent: | BofA Merrill Lynch
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Fees: | 2.5%
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Cusip: | 40435X371
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