Published on 7/1/2016 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $8.07 million buffered digital notes tied to Stoxx 50, Stoxx Europe 600
By Marisa Wong
Morgantown, W.Va., July 1 – HSBC USA Inc. priced $8.07 million of 0% buffered digital notes due June 30, 2020 linked to the worse performing of the Euro Stoxx 50 index and the Stoxx Europe 600 index, according to a 424B2 filing with the Securities and Exchange Commission.
If both indexes finish at or above their buffer levels, 80% of their initial levels, the payout at maturity will be par plus the digital upside return of 28.06%.
If either index finishes below the buffer level, investors will lose 1.25% for every 1% decline of the worse performing index beyond the 20% buffer.
HSBC Securities (USA) LLC is the underwriter.
Issuer: | HSBC USA Inc.
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Issue: | Buffered digital notes
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Underlying indexes: | Euro Stoxx 50 and Stoxx Europe 600
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Amount: | $8,065,000
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Maturity: | June 30, 2020
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If both indexes finish at or above their 80% buffer levels, par plus 28.06%; if either index finishes below the buffer level, 1.25% loss for every 1% decline of the worse performing index beyond the 20% buffer
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Initial levels: | 2,697.44 for Euro Stoxx and 308.75 for Stoxx Europe
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Pricing date: | June 27
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Settlement date: | June 30
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 2.5%
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Cusip: | 40433UPP5
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