Published on 4/29/2013 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $6.03 million trigger performance notes on Vanguard FTSE Emerging Markets
By Angela McDaniels
Tacoma, Wash., April 29 - HSBC USA Inc. priced $6.03 million of 0% trigger performance securities due April 30, 2018 linked to the Vanguard FTSE Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus 129.25% of any ETF gain. Investors will receive par if the ETF falls by up to 25% and will be fully exposed to its decline from the initial price if it falls by more than 25%.
HSBC Securities (USA) Inc. is the underwriter, and UBS Financial Services Inc. is agent.
Issuer: | HSBC USA Inc.
|
Issue: | Trigger performance securities
|
Underlying ETF: | Vanguard FTSE Emerging Markets ETF
|
Amount: | $6,031,840
|
Maturity: | April 30, 2018
|
Coupon: | 0%
|
Price: | Par of $10.00
|
Payout at maturity: | Par plus 129.25% of any ETF gain; par if ETF falls by 25% or less; full exposure to losses if ETF finishes below trigger level
|
Initial share price: | $43.17
|
Trigger level: | $32.38, 75% of initial share price
|
Pricing date: | April 25
|
Settlement date: | April 30
|
Underwriter: | HSBC Securities (USA) Inc.
|
Agent: | UBS Financial Services Inc.
|
Fees: | 3.5%
|
Cusip: | 40433X860
|
© 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.