Published on 11/7/2016 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $1.65 million barrier enhanced participation notes tied to S&P, Russell
By Marisa Wong
Morgantown, W.Va., Nov. 7 – HSBC USA Inc. priced $1.65 million of 0% barrier enhanced participation notes due Nov. 2, 2021 linked to the Russell 200 index and the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 1.78 times any gain of the lesser performing index.
Investors will receive par if the lesser-performing index falls by up to 50% and will be fully exposed to the decline of the lesser performing index if it finishes below the 50% barrier level.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Barrier enhanced participation notes
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Underlying indexes: | S&P 500, Russell 2000
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Amount: | $1.65 million
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Maturity: | Nov. 2, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.78 times any gain of the lesser performing index; par if the lesser-performing index falls by up to 50%; full exposure to the decline of the lesser performing index if it finishes below the 50% barrier level
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Initial levels: | 2,126.41 for S&P and 1,187.613 for Russell
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Pricing date: | Oct. 28
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Settlement date: | Nov. 2
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 0.25%
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Cusip: | 40433UZM1
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