Published on 11/5/2014 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $2.37 million trigger PLUS tied to iShares U.S. Real Estate
By Marisa Wong
Madison, Wis., Nov. 5 – HSBC USA Inc. priced $2.37 million of 0% trigger Performance Leveraged Upside Securities due Nov. 6, 2017 linked to the iShares U.S. Real Estate exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus double any fund gain, up to a maximum return of 61%.
Investors will receive par if the fund falls by to 15% and will be fully exposed to any losses if the fund finishes below the 85% trigger level.
HSBC Securities (USA) Inc. is the agent with distribution through Morgan Stanley Wealth Management.
Issuer: | HSBC USA Inc.
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Issue: | Trigger Performance Leveraged Upside Securities
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Underlying fund: | iShares U.S. Real Estate ETF
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Amount: | $2,370,300
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Maturity date: | Nov. 6, 2017
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 200% of any fund gain, capped at 61%; par if fund falls by up to 15%; otherwise, full exposure to losses
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Initial price: | $74.98
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Trigger level: | $63.73, 85% of the initial price
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Pricing date: | Oct. 31
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Settlement date: | Nov. 5
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Agent: | HSBC Securities (USA) Inc. with distribution through Morgan Stanley Wealth Management
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Fees: | 3%
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Cusip: | 40434D335
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