Published on 9/30/2013 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $18.32 million trigger performance notes on Euro Stoxx 50
By Jennifer Chiou
New York, Sept. 30 - HSBC USA Inc. priced $18,322,530 of 0% trigger performance securities due Sept. 29, 2023 linked to the Euro Stoxx 50 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 211.5% 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: | Euro Stoxx 50
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Amount: | $18,322,530
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Maturity: | Sept. 29, 2023
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 211.5% of any index gain; par if index falls by up to 50%; full exposure to losses from initial level if index finishes below trigger level
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Initial index level: | 2,922.99
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Trigger level: | 1,461.50, 50% of initial level
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Pricing date: | Sept. 26
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Settlement date: | Sept. 30
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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: | 40433X266
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