New Issue: HSBC prices $5.37 million trigger performance notes linked to S&P 500

By Toni Weeks

San Diego, Nov. 28 - HSBC USA Inc. priced $5.37 million of 0% trigger performance securities due Nov. 28, 2014 linked to the S&P 500 index, 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 1.1456 times the index return.

Investors will receive par if the index falls by up to 40% and will be fully exposed to losses from the initial level if it falls more than 40%.

HSBC Securities (USA) Inc. is the underwriter, and UBS Financial Services Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Trigger performance securities
Underlying index:	S&P 500
Amount:	$5,371,680
Maturity:	Nov. 28, 2014
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If index return is positive, par plus 114.56% of index return; par if index falls by up to 40%; full exposure to losses if index falls more than 40%
Initial level:	1,161.79
Trigger level:	697.07, 60% of initial level
Pricing date:	Nov. 23
Settlement date:	Nov. 30
Underwriter:	HSBC Securities (USA) Inc. with UBS Financial Services Inc. as agent
Fees:	2.5%
Cusip:	40433C239

© 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.