Published on 2/24/2014 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $1.7 million return enhanced notes linked to pharma stocks
By Angela McDaniels
Tacoma, Wash., Feb. 24 - HSBC USA Inc. priced $1.7 million of 0% return enhanced notes due Feb. 23, 2017 linked to a basket of three equally weighted common stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The underlying companies are AstraZeneca plc, Bristol-Myers Squibb Co. and Merck & Co., Inc.
If the basket return is positive, the payout at maturity will be par plus 180.5% of the basket return. If the basket return is negative, investors will have one-to-one exposure to the decline.
HSBC Securities (USA) Inc. is the underwriter, and J.P. Morgan Securities LLC is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Return enhanced notes
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| Underlying stocks: | AstraZeneca plc (Symbol: AZN), Bristol-Myers Squibb Co. (Symbol: BMY) and Merck & Co., Inc. (Symbol: MRK), equally weighted
|
| Amount: | $1.7 million
|
| Maturity: | Feb. 23, 2017
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If basket return is positive, par plus 180.5% of basket return; if basket return is negative, one-to-one exposure to decline
|
| Initial share prices: | $66.61 for AstraZeneca, $54.14 for Bristol-Myers Squibb and $56.03 for Merck
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| Final share prices: | For each stock, average of its closing prices on five trading days ending Feb. 17, 2017
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| Pricing date: | Feb. 21
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| Settlement date: | Feb. 26
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| Underwriter: | HSBC Securities (USA) Inc.
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| Agent: | J.P. Morgan Securities LLC as agent
|
| Fees: | 2%
|
| Cusip: | 40432XU33
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