Published on 4/29/2014 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $5.58 million trigger performance notes tied to S&P 500
By Marisa Wong
Madison, Wis., April 29 - HSBC USA Inc. priced $5.58 million of 0% trigger performance securities due April 30, 2019 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 113% of the index return.
Investors will receive par if the index falls by up to 40% and will be fully exposed to losses from the initial level if it falls more than 40%.
HSBC Securities (USA) Inc. is the underwriter with UBS Financial Services Inc. as 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: | $5,580,900
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Maturity date: | April 30, 2019
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Coupon: | 0%
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Price: | Par of $10.00
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Payout at maturity: | Par plus 113% of index return if index gains; par if index falls by up to 40%; otherwise, full exposure to losses
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Initial level: | 1,863.40
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Trigger level: | 1,118.40, 60% of the initial price
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Pricing date: | April 25
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Settlement date: | April 30
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Underwriter: | HSBC Securities (USA) Inc. with UBS Financial Services Inc. as agent
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Fees: | 3.5%
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Cusip: | 40434C766
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