Published on 5/28/2014 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $118,000 four-year SelectInvest notes linked to Russell 2000
By Susanna Moon
Chicago, May 28 - HSBC USA Inc. priced $118,000 of 0% SelectInvest debt securities due June 4, 2018 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus any index gain, up to a maximum return of 38%.
Investors will receive par if the index falls by up to 20% and will lose 1% for every 1% decline beyond 20%.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | SelectInvest debt securities
|
| Underlying index: | Russell 2000
|
| Amount: | $118,000
|
| Maturity: | June 4, 2018
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus any index gain, capped at 38%; par if index falls by up to 20%; 1% loss for every 1% drop beyond 20%
|
| Pricing date: | May 23
|
| Settlement date: | June 2
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 2.65%
|
| Cusip: | 40432XYY1
|
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