Published on 7/24/2019 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $4.98 million buffered notes on Russell 2000, iShares EAFE
By Marisa Wong
Los Angeles, July 24 – HSBC USA Inc. priced $4.98 million of buffered notes with fixed coupons due Nov. 23, 2020 linked to the Russell 2000 index and the iShares MSCI EAFE exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly at a rate of 5.05% per year.
The payout at maturity will be par unless the lesser performing asset falls by more than 17.5%, in which case investors will lose 1.2121% for each 1% that the lesser performing asset declines beyond 17.5%.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Buffered notes with fixed coupons
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Underlying assets: | Russell 2000 index, iShares MSCI EAFE ETF
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Amount: | $4,975,000
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Maturity: | Nov. 23, 2020
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Coupon: | 5.05%, payable monthly
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Price: | Par
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Payout at maturity: | Par unless the lesser performing asset falls by more than 17.5%, in which case 1.2121% loss for each 1% that the lesser performing asset declines beyond 17.5%
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Initial values: | 1,550.778 for index and $65.50 for ETF
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Pricing date: | July 17
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Trade date: | July 18
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Settlement date: | July 23
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Underwriter: | HSBC Securities (USA) Inc.
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Fees: | None
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Cusip: | 40435UTB0
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