Published on 12/7/2015 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $700,000 leveraged buffered notes on low volatility ETF
By Marisa Wong
Morgantown, W.Va., Dec. 7 – HSBC USA Inc. priced $700,000 of 0% leveraged buffered uncapped market participation securities due Nov. 30, 2020 tied to the Powershares S&P 500 Low Volatility Portfolio exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the fund return is positive, the payout at maturity will be par plus 120% of the fund return. Investors will receive par if the fund falls by up to 15% and lose 1% for every 1% decline beyond 15%.
HSBC Securities (USA) Inc. is the underwriter.
Issuer: | HSBC USA Inc.
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Issue: | Buffered uncapped market participation securities
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Underlying ETF: | Powershares S&P 500 Low Volatility Portfolio ETF
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Amount: | $700,000
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Maturity: | Nov. 30, 2020
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If fund return is positive, par plus 1.2 times fund gain; par if fund falls by up to 15%; 1% loss for every 1% decline beyond 15%
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Initial price: | $38.67
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Pricing date: | Nov. 24
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Settlement date: | Nov. 30
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Underwriters: | HSBC Securities (USA) Inc.
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Fees: | 3.75%
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Cusip: | 40433UCQ7
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