By Wendy Van Sickle
Columbus, Ohio, March 20 – HSBC USA Inc. priced $1.1 million of 0% market plus notes due March 13, 2025 linked to the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-out event will occur if the final share price is less than the initial share price by more than 45%.
If a knock-out event has not occurred, the payout at maturity will be par plus the greater of (a) 122% of the index return and (b) zero. If a knock-out event has occurred, investors will lose 1% for every 1% that the final share price is less than the initial share price.
HSBC Securities (USA) Inc. is the underwriter. JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the placement agents.
| Issuer: | HSBC USA Inc.
|
| Issue: | Market plus notes
|
| Underlying index: | Dow Jones industrial average
|
| Amount: | $1.1 million
|
| Maturity: | March 13, 2025
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus greater of 122% of index return and zero unless index falls by more than 45%, in which case full exposure to index’s decline from initial level
|
| Initial share price: | 24,083.00
|
| Knock-out level: | 55% of initial level
|
| Pricing date: | March 10
|
| Trade date: | March 9
|
| Settlement date: | March 13
|
| Underwriter: | HSBC Securities (USA) Inc.
|
| Agents: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 40438CBX8
|
|
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
