Published on 11/27/2018 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $1.1 million barrier absolute return notes on S&P 500 index
By Sarah Lizee
Olympia, Wash., Nov. 27 – HSBC USA Inc. priced $1.1 million of 0% barrier absolute return notes due Nov. 27, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
A barrier event will occur if the index closes above the upper barrier, 119.75% of the initial level, or below the lower barrier, 80.25% of the initial level, during the life of the notes.
If a barrier event occurs, the payout at maturity will be par plus 4%.
If no barrier event occurs, the payout will be par plus the absolute value of the index return.
HSBC Securities (USA) Inc. is the underwriter.
Issuer: | HSBC USA Inc.
|
Issue: | Barrier absolute return notes
|
Underlying index: | S&P 500
|
Amount: | $1.1 million
|
Maturity: | Nov. 27, 2020
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | If index closes above 119.75% or below 80.25% of initial level during life of notes, par plus 4%; otherwise, par plus absolute value of index return
|
Initial index level: | 2,690.73
|
Upper barrier: | 3,222.149175, 119.75% of initial level
|
Lower barrier level: | 2,159.310825, 80.25% of initial level
|
Pricing date: | Nov. 19
|
Settlement date: | Nov. 27
|
Underwriters: | HSBC Securities (USA) Inc.
|
Fees: | 1.25%
|
Cusip: | 40435UBA1
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.