Published on 9/23/2016 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $7.81 million capped leveraged buffered notes linked to S&P
By Susanna Moon
Chicago, Sept. 23 – HSBC USA Inc. priced $7.81 million of 0% capped leveraged buffered notes due March 26, 2018 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 1.4 times any index gain, up to a maximum settlement amount of $1,201.60 per $1,000 principal amount.
Investors will receive par if the index falls by up to 10% and will lose 1.1111% for each 1% decline beyond 10%.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Capped leveraged buffered notes
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Underlying index: | S&P 500 index
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Amount: | $7,813,000
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Maturity: | March 26, 2018
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Coupon: | 0%
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Price: | Par of $1,000
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Payout at maturity: | Par plus 140% of any index gain, capped at 20.16%; par if index falls by up to 10%; 1.1111% loss for every 1% drop beyond 10%
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Initial level: | 2,163.12
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Pricing date: | Sept. 21
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Settlement date: | Sept. 28
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Agent: | HSBC Securities (USA) Inc.
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Fees: | None
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Cusip: | 40433UVK9
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