Published on 7/11/2016 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $12.61 million seven-year Mitts linked to the Dow
By Marisa Wong
Morgantown, W.Va., July 11 – HSBC USA Inc. priced $12.61 million of 0% Market Index Target-Term Securities due June 30, 2023 linked to the Dow Jones industrial average, 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 43.5%.
If the index falls, the payout will be par.
BofA Merrill Lynch is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Market Index Target-Term Securities
|
| Underlying index: | Dow Jones industrial average
|
| Amount: | $12,606,780
|
| Maturity: | June 30, 2023
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus any index return, capped at 43.5%, floor of par
|
| Initial level: | 17,895.88
|
| Pricing date: | July 7
|
| Settlement date: | July 13
|
| Agent: | BofA Merrill Lynch
|
| Fees: | 2.5%
|
| Cusip: | 40434V780
|
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