Published on 6/5/2017 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $26.55 million Leveraged Index Return Notes tied to the Dow
By Marisa Wong
Morgantown, W.Va., June 5 – HSBC USA Inc. sold $26.55 million of 0% Leveraged Index Return Notes due May 27, 2022 linked to the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus 116.2% of any index gain.
Investors will receive par if the index declines up to 20% and will be exposed to declines in the index beyond 20%.
BofA Merrill Lynch is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Leveraged Index Return Notes
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Underlying index: | Dow Jones industrial average
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Amount: | $26,545,280
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Maturity: | May 27, 2022
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 116.2% of any index gain; par if index falls by up to 20% and exposure to declines in the index beyond 20%
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Initial level: | 21,082.95
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Pricing date: | May 25
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Settlement date: | June 2
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Agent: | BofA Merrill Lynch
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Fees: | 2.5%
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Cusip: | 40435D698
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