Published on 5/1/2019 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $765,000 buffered return enhanced notes linked to Qualcomm
By Sarah Lizee
Olympia, Wash., May 1 – HSBC USA Inc. priced $765,000 of 0% buffered return enhanced notes due May 13, 2020 linked to the common stock of Qualcomm Inc., according to a 424B2 filing with the Securities and Exchange Commission.
If the stock return is greater than zero, the payout at maturity will be par plus 150% of the stock return, subject to a maximum return of 19.53%. Investors will receive par if the stock 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.
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Issue: | Buffered return enhanced notes
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Underlying stock: | Qualcomm Inc.
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Amount: | $765,000
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Maturity: | May 13, 2020
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If stock return is greater than zero, par plus 150% of stock return, subject to maximum return of 19.53; par if stock declines by 15% or less; 1.1765% loss for every 1% that stock declines beyond 15%
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Initial stock price: | $86.64
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Final stock price: | Average of stock’s closing levels on five trading days ending May 8, 2020
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Pricing date: | April 26
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Settlement date: | May 1
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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%
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Cusip: | 40435UMB7
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