New Issue: HSBC sells $768,000 dual directional buffered notes on index, ETF

By Sarah Lizee

Olympia, Wash., Oct. 18 – HSBC USA Inc. priced $768,000 of 0% dual directional buffered notes due Oct. 18, 2021 linked to the lesser performing of the S&P 500 index and the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 1.02 times any gain of the lesser performing asset.

If either asset falls but the lesser performer declines by no more than the 15% buffer amount then the payout at maturity will be par plus the absolute value of the return of the lesser performing asset.

If the lesser performing asset declines by more than 15% the payout will be par less the loss of that asset beyond 15%.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Dual directional buffered notes
Underlying assets:	iShares MSCI Emerging Markets exchange-traded fund and S&P 500 index
Amount:	$768,000
Maturity:	Oct. 18, 2021
Coupon:	0%
Price:	Par of $1,000
Payout at maturity:	Par plus 1.02 times any gain of laggard asset; if laggard asset falls by up to 15%, par plus absolute value of its return; otherwise, exposure to losses of laggard asset beyond 15%
Initial values:	2,938.13 for index, $64.40 for ETF
Buffer levels:	85% of initial levels
Pricing date:	Oct. 10
Settlement date:	Oct. 16
Agent:	HSBC Securities (USA) Inc.
Fees:	0.5%
Cusip:	40435UYP3

© 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.