Published on 2/25/2019 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $19.15 million Capped Leveraged Index Return Notes on Russell
By Sarah Lizee
Olympia, Wash., Feb. 25 – HSBC USA Inc. priced $19.15 million of 0% Capped Leveraged Index Return Notes due Feb. 26, 2021 linked to the Russell 2000 index, according to a 424B2 filed with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus double any index gain, up to a maximum return of 17%.
Investors will receive par if the index falls by up to 10% and will lose 1% for every 1% decline beyond 10%.
BofA Merrill Lynch is the underwriter.
Issuer: | HSBC USA Inc.
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Issue: | Capped Leveraged Index Return Notes
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Underlying index: | Russell 2000
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Amount: | $19,152,220
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Maturity: | Feb. 26, 2021
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus double any index gain, up to a maximum return of 17%; par if the index falls by up to 10%; 1% loss for every 1% decline beyond 10%
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Initial level: | 1,575.547
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Threshold level: | 1,417.992, 90% of initial level
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Final level: | Average of index closing levels on five averaging dates ending Feb. 23, 2021
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Pricing date: | Feb. 21
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Settlement date: | Feb. 28
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Underwriter: | BofA Merrill Lynch
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Fees: | 2%
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Cusip: | 40436A388
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