Published on 12/3/2015 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $26.98 million market-linked step-up notes on Euro Stoxx
By Marisa Wong
Morgantown, W.Va., Dec. 3 – HSBC USA Inc. priced $26.98 million of 0% market-linked step-up notes due Nov. 24, 2017 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes above the step-up value – 119.7% of the initial level – the payout at maturity will be par of $10.00 plus the index gain.
If the index gains by up to the step-up level, the payout will be par plus the step-up payment of 19.7%.
Investors will be exposed to any losses.
BofA Merrill Lynch is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Autocallable market-linked step-up notes
|
| Underlying index: | Euro Stoxx 50
|
| Amount: | $26,977,370
|
| Maturity: | Nov. 24, 2017
|
| Coupon: | 0%
|
| Price: | Par of $10.00
|
| Payout at maturity: | If index finishes above step-up value, par plus index gain; if index gains by up to step-up level, par plus 19.7%; otherwise, investors will be exposed to any losses
|
| Initial level: | 3,409.60
|
| Step-up value: | 4,081.29, 119.7% of initial level
|
| Pricing date: | Nov. 24
|
| Settlement date: | Dec. 2
|
| Underwriter: | BofA Merrill Lynch
|
| Fees: | 2%
|
| Cusip: | 40434K644
|
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