Published on 12/30/2014 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $10.82 million Accelerated Return Notes tied to MSCI EAFE
By Toni Weeks
San Luis Obispo, Calif., Dec. 30 – HSBC USA Inc. priced $10.82 million of 0% Accelerated Return Notes due Feb. 26, 2016 tied to the MSCI EAFE Index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus 300% of the index return, subject to a maximum payout of par plus 12.6%. Investors will lose 1% for every 1% decline in the index.
The final index level will be the average of the closing index levels on the five trading days ending Feb. 23, 2016.
BofA Merrill Lynch is the underwriter.
Issuer: | HSBC USA Inc.
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Issue: | Accelerated Return Notes
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Underlying index: | MSCI EAFE Index
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Amount: | $10,819,030
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Maturity: | Feb. 26, 2016
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index return is positive, par plus 300% of index return, subject to maximum payout of par plus 12.6%; 1% loss for every 1% decline
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Initial index level: | 1,790.61
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Pricing date: | Dec. 24
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Settlement date: | Jan. 5
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Underwriter: | BofA Merrill Lynch
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Fees: | 2%
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Cusip: | 40434F850
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