Published on 12/27/2016 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $17.67 million seven-year Mitts linked to the Dow
By Marisa Wong
Morgantown, W.Va., Dec. 27 – HSBC USA Inc. priced $17.67 million of 0% Market Index Target-Term Securities due Dec. 22, 2023 linked to the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par of $10 plus the index return, subject to a maximum return of 68.71%. If the index return is zero or negative, the payout will be par.
BofA Merrill Lynch is the underwriter.
Issuer: | HSBC USA Inc.
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Issue: | Market Index Target-Term Securities
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Underlying: | Dow Jones industrial average
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Amount: | $17,673,980
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Maturity: | Dec. 22, 2023
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If index return is positive, par plus index return, subject to 68.71% maximum return; if index return is zero or negative, par
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Initial index level: | 19,974.62
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Final index level: | Average of index’s closing levels on five trading days ending Dec. 19, 2023
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Pricing date: | Dec. 20
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Settlement date: | Dec. 30
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Underwriter: | BofA Merrill Lynch
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Fees: | 2.5%
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Cusip: | 40435B247
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