Published on 3/12/2019 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $4.78 million market plus notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., March 12 – HSBC USA Inc. priced $4.78 million of 0% market plus notes due March 13, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-out event will occur if the final index level is less than the initial index level by more than 39.5%.
If a knock-out event has not occurred, the payout at maturity will be par plus the greater of zero and 125% of the index return. If a knock-out event has occurred, investors will lose 1% for every 1% that the final index level is less than the initial index level.
HSBC Securities (USA) Inc., JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the agents.
Issuer: | HSBC USA Inc.
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Issue: | Market plus notes
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Underlying index: | S&P 500
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Amount: | $4,776,000
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Maturity: | March 13, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus greater of 125% of index return and zero unless index falls by more than 39.5%, in which case exposure to index’s decline from initial level
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Initial level: | 2,743.07
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Final level: | Average of index’s closing levels on five trading days ending March 8, 2024
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Pricing date: | March 8
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Settlement date: | March 13
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Agents: | HSBC Securities (USA) Inc., JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
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Fees: | 3%
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Cusip: | 40435UJK1
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