By Jennifer Chiou
New York, Oct. 10 - HSBC USA Inc. priced $1,980,700 of 0% trigger autocallable optimization securities due Oct. 12, 2017 linked to the iShares Russell 2000 index fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the shares close at or above the initial price on any quarterly observation date after one year, the notes will be called at par plus an annualized call return of 9.4%.
If the notes are not called and the shares finish at or above the 65% trigger level, the payout at maturity will be par.
Otherwise, investors will share fully in losses.
HSBC Securities (USA) Inc. is the underwriter, and UBS Financial Services is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Trigger autocallable optimization securities
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Underlying fund: | iShares Russell 2000 index fund
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Amount: | $1,980,700
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Maturity: | Oct. 12, 2017
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If final price is at least trigger level, par; otherwise, full exposure to losses
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Call: | At par plus 9.4% per year if shares close at or above initial level on any quarterly observation date after one year
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Initial price: | $84.11
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Trigger price: | $54.67, 65% of initial price
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Pricing date: | Oct. 5
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Settlement date: | Oct. 12
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Underwriter: | HSBC Securities (USA) Inc. with UBS Financial Services Inc. as agent
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Fees: | 2.5%
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Cusip: | 40433T836
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