By Toni Weeks
San Diego, May 30 - HSBC USA Inc. priced $10.13 million of 0% trigger performance securities due May 31, 2017 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 1.43 times the index return.
If the index return is zero or negative and the final index level is greater than or equal to the trigger level, 50% of the initial level, the payout will be par.
If the final index level is less than the trigger level, the payout will be par plus the index return, with full exposure to losses.
HSBC Securities (USA) Inc. is the underwriter with UBS Financial Services Inc. as the agent.
Issuer: | HSBC USA Inc.
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Issue: | Trigger performance securities
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Underlying index: | S&P 500
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Amount: | $10,132,070
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Maturity: | May 31, 2017
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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 143% of index return; par if index falls by up to 50%; otherwise, full exposure to losses
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Initial level: | 1,317.82
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Trigger level: | 658.91, 50% of initial level
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Pricing date: | May 25
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Settlement date: | May 31
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Underwriter: | HSBC Securities (USA) Inc. with UBS Financial Services Inc. as agent
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Fees: | 3.5%
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Cusip: | 40433M831
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