Published on 5/31/2013 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $15.77 million trigger performance securities linked to S&P 500 index
By Toni Weeks
San Luis Obispo, Calif., May 31 - HSBC USA Inc. priced $15.77 million of 0% trigger performance securities due May 31, 2023 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 171.8% of the index return.
Investors will receive par if the index falls by up to 50% and will be fully exposed to losses from the initial level if it falls more than 50%.
HSBC Securities (USA) Inc. is the underwriter, and UBS Financial Services Inc. is 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: | $15,768,360
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Maturity: | May 31, 2023
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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 171.8% of index return; par if index falls by up to 50%; full exposure to losses if index falls more than 50%
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Initial level: | 1,660.06
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Trigger level: | 830.03, 50% of initial level
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Pricing date: | May 28
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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: | 5%
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Cusip: | 40433X779
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