Published on 2/20/2019 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $2.58 million buffered return enhanced notes linked to S&P 500
By Wendy Van Sickle
Columbus, Ohio, Feb. 20 – HSBC USA Inc. priced $2.58 million of 0% buffered return enhanced notes due Aug. 23, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is greater than zero, the payout at maturity will be par plus 200% of the index return, subject to a maximum return of 24%. Investors will receive par if the index declines by 15% or less and will lose 1.1765% for every 1% that it might decline beyond 15%.
HSBC Securities (USA) Inc. is the underwriter. JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are placement agents.
| Issuer: | HSBC USA Inc.
|
| Issue: | Buffered return enhanced notes
|
| Underlying index: | S&P 500 index
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| Amount: | $2,575,000
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| Maturity: | Aug. 23, 2021
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | If index return is greater than zero, par plus 200% of index return, subject to maximum return of 24%; par if index declines by 15% or less; 1.1765% loss for every 1% that index declines beyond 15%
|
| Initial index level: | 2,775.6
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| Final index level: | Average of index’s closing levels on five trading days ending Aug. 18, 2021
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| Pricing date: | Feb. 15
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| Settlement date: | Feb. 21
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| Underwriter: | HSBC Securities (USA) Inc.
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| Agents: | JPMorgan Chase Bank NA and J.P. Morgan Securities LLC
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| Fees: | 1.75%
|
| Cusip: | 40435UGH1
|
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