Published on 11/3/2014 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $4.68 million airbag performance notes linked to S&P 500
By Susanna Moon
Chicago, Nov. 3 – HSBC USA Inc. priced $4.68 million of 0% airbag performance securities due Oct. 31, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 139% of any index gain.
Investors will receive par if the index falls by up to 50% and will lose 2% for each 1% decline beyond 50%.
HSBC Securities (USA) Inc. is the underwriter with UBS Financial Services Inc. as agent.
Issuer: | HSBC USA Inc.
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Issue: | Airbag performance securities
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Underlying index: | S&P 500
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Amount: | $4,682,000
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Maturity: | Oct. 31, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 139% of index gain; par if index falls by up to 50%; otherwise, 2% loss per 1% drop beyond 50%
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Initial index level: | 1,982.30
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Trigger level: | 50% of initial level
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Pricing date: | Oct. 29
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Settlement date: | Oct. 31
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Underwriter: | HSBC Securities (USA) Inc.
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Agent: | UBS Financial Services Inc.
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Fees: | 5%
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Cusip: | 40434D277
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