By Susanna Moon
Chicago, Jan. 16 – HSBC USA Inc. priced $1.5 million of 0% market plus notes due Jan. 21, 2020 linked to the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-out event occurs if the fund closes below the initial level by more than the 50% knock-out buffer amount on any trading day during the life of the notes.
If the fund never dips below the knock-out level, the payout at maturity will be par plus the greater of 1.12 times any fund gain and 0%.
Otherwise, investors will receive par plus the return, with full exposure to any losses.
HSBC Securities (USA) Inc. is the underwriter with J.P. Morgan Securities LLC as agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Market plus notes
|
| Underlying fund: | iShares MSCI Emerging Markets ETF
|
| Amount: | $1.5 million
|
| Maturity: | Jan. 21, 2020
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If fund ever closes below knock-out level, par plus return, with exposure to any losses; otherwise, par plus 112% of any fund return, floor of par
|
| Initial level: | $39.07
|
| Trigger level: | 50% of initial level
|
| Pricing date: | Jan. 14
|
| Settlement date: | Jan. 20
|
| Underwriter: | HSBC Securities (USA) Inc.
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 3%
|
| Cusip: | 40433BTW8
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
