JPMorgan prices $15.59 million Euro Stoxx 50-linked securities; HSBC offers S&P 500 notes

By Sheri Kasprzak

New York, Aug. 2 – It was an active session for new structured products pricings, led by a significant deal from JPMorgan Chase Financial Co. LLC.

The issuer priced $15.59 million of 0% dual directional trigger Performance Leveraged Upside Securities linked to the Euro Stoxx 50 index.

The securities are due Aug. 1, 2019 and pay par of $10 plus 200% of the index return, subject to a 41% maximum return, assuming the final index level is greater than the initial level.

If the final index level is less than or equal to the initial index level but greater than or equal to the trigger level, 80% of the initial index level, the payout at maturity is par plus the absolute value of the index return.

Investors will face a one-to-one exposure to any decline if the final index level is less than the trigger level.

J.P. Morgan Securities LLC was the agent with Morgan Stanley Smith Barney LLC handling distribution.

HSBC offers PLUS

In other new offerings, HSBC USA Inc. priced $13.46 million of 0% buffered Performance Leveraged Upside Securities linked to the S&P 500 index.

The securities are due Feb. 5, 2019 and pay at maturity par of $10 plus double the index return, subject to a maximum return of 20.4%, if the index return is positive. Investors will receive par if the index declines by 10% or less and will lose 1% for every 1% that it declines beyond 10%.

HSBC Securities (USA) Inc. was the agent for the deal with Morgan Stanley Wealth Management as the dealer.

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