Published on 7/30/2013 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $8.51 million trigger return notes on Financial Select SPDR
By Marisa Wong
Madison, Wis., July 30 - HSBC USA Inc. priced $8.51 million of 0% trigger return optimization securities due July 29, 2016 linked to Financial Select Sector SPDR fund, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par plus double any fund gain, up to a maximum return of 29.01%.
If the fund finishes at or above the 75% trigger level, the payout will be par.
Otherwise, investors will be fully exposed to any losses.
HSBC Securities (USA) Inc. is the underwriter with UBS Financial Services Inc. as placement agent.
Issuer: | HSBC USA Inc.
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Issue: | Trigger return optimization securities
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Underlying fund: | Financial Select Sector SPDR fund
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Amount: | $8,514,590
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Maturity: | July 29, 2016
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus double any fund gain, return capped at 29.01%; if fund finishes at or above trigger level, par; otherwise, full exposure to any losses
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Initial price: | $20.64
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Trigger price: | $15.48, 75% of initial price
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Pricing date: | July 26
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Settlement date: | July 31
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Underwriter: | HSBC Securities (USA) Inc. with UBS Financial Services Inc. as placement agent
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Fees: | 2.5%
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Cusip: | 40433X415
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