Published on 12/1/2014 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $930,000 airbag performance securities linked to S&P 500
By Jennifer Chiou
New York, Dec. 1 – HSBC USA Inc. priced $930,000 of 0% airbag performance securities due Nov. 29, 2019 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 129% of any index gain.
Investors will receive par if the index falls by up to 20% and will lose 1.25% for each 1% decline beyond 20%.
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: | $930,000
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Maturity: | Nov. 29, 2019
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 129% of index gain; par if index falls by up to 20%; otherwise, 1.25% loss per 1% drop beyond 20%
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Initial index level: | 2,069.41
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Threshold percentage: | 20%
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Pricing date: | Nov. 24
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Settlement date: | Nov. 28
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Underwriter: | HSBC Securities (USA) Inc.
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Agent: | UBS Financial Services Inc.
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Fees: | None
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Cusip: | 40434F405
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