Published on 4/5/2019 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $4.81 million Accelerated Return Notes due 2020 on VanEck Vectors Gold
By Wendy Van Sickle
Columbus, Ohio, April 5 – HSBC USA Inc. priced $4.81 million 0% Accelerated Return Notes due May 29, 2020 linked to the VanEck Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 300% of any gain in the fund, subject to a maximum of 22.98%. Investors will lose 1% for each 1% decline in the fund from its initial level.
The exact terms will be set at pricing.
BofA Merrill Lynch is the underwriter.
| Issuer: | HSBC USA Inc.
|
| Issue: | Accelerated Return Notes
|
| Underlying ETF: | VanEck Vectors Gold Miners ETF
|
| Amount: | $4,813,850
|
| Maturity: | May 29, 2020
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| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus triple any ETF gain, capped at par plus 22.98%; full exposure to losses
|
| Initial level: | $22.41
|
| Pricing date: | March 28
|
| Settlement date: | April 4
|
| Agent: | BofA Merrill Lynch
|
| Fees: | 2%
|
| Cusip: | 40436B105
|
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