By Susanna Moon
Chicago, June 27 - HSBC USA Inc. priced $2.95 million of 0% trigger performance securities due June 29, 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 121.5% of any gain in the fund.
Investors will receive par if the shares fall by up to 25% and will be fully exposed to any losses if the fund finishes below the 75% trigger level.
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 fund: | Vanguard FTSE Emerging Markets ETF
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Amount: | $2,946,500
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Maturity: | June 29, 2018
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Coupon: | 0%
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Price: | Par of $10.00
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Payout at maturity: | Par plus 121.5% of any fund gain; par if shares fall by 25% or less; full exposure to any losses if fund finishes below trigger level
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Initial share price: | $37.20
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Trigger level: | $27.90, 75% of initial share price
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Pricing date: | June 25
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Settlement date: | June 28
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Underwriter: | HSBC Securities (USA) Inc.
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Agent: | UBS Financial Services Inc.
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Fees: | 3.5%
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Cusip: | 40433X100
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