Published on 4/29/2013 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $13.82 million trigger performance notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., April 29 - HSBC USA Inc. priced $13.82 million of 0% trigger performance securities due April 30, 2018 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus 186% of any index gain. Investors will receive par if the index falls by up to 50% and will be fully exposed to the index's decline from the initial level if it falls by more than 50%.
HSBC Securities (USA) Inc. is the underwriter, and UBS Financial Services Inc. is 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: | $13,816,820
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Maturity: | April 28, 2023
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 186% of any index gain; par if index falls by 50% or less; full exposure to losses if index finishes below trigger level
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Initial index level: | 1,585.16
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Trigger level: | 792.58, 50% of initial level
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Pricing date: | April 25
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Settlement date: | April 30
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Underwriter: | HSBC Securities (USA) Inc.
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Agent: | UBS Financial Services Inc.
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Fees: | 5%
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Cusip: | 40433X803
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