Published on 11/5/2013 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $22.66 million dual directional trigger PLUS linked to S&P 500
By Susanna Moon
Chicago, Nov. 5 - HSBC USA Inc. priced $22.66 million 0% dual directional trigger Performance Leveraged Upside Securities due May 6, 2019 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the index finishes above the initial level, the payout at maturity will be par of $10 plus 114% of any gain.
If the index falls by up to the 65% trigger level, the payout will be par plus the absolute value of the return, up to a maximum return of 35%.
Otherwise, investors will be fully exposed to any losses.
HSBC Securities (USA) Inc. is the agent. Morgan Stanley Wealth Management is the dealer.
Issuer: | HSBC USA Inc.
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Issue: | Dual directional trigger Performance Leveraged Upside Securities
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Underlying index: | S&P 500
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Amount: | $22,656,790
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Maturity: | May 6, 2019
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Coupon: | 0%
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Price: | Par of $10.00
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Payout at maturity: | If index gains, par plus 114% of return; if index falls by up to 35%, plus absolute value of the return, capped at 35%; otherwise, full exposure to any losses
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Initial level: | 1,756.54
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Trigger level: | 1,141.75, 65% of initial level
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Pricing date: | Oct. 31
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Settlement date: | Nov. 5
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Agent: | HSBC Securities (USA) Inc. with Morgan Stanley Wealth Management as dealer
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Fees: | 3.5%
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Cusip: | 40434B206
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