Published on 1/2/2015 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $6.88 million trigger PLUS linked to S&P 500 index
By Jennifer Chiou
New York, Jan. 2 – HSBC USA Inc. priced $6,883,300 of 0% trigger Performance Leveraged Upside Securities due Jan. 4, 2018 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 200% of any index gain, subject to a maximum payment of $13.00 per $10.00 note.
Investors will receive par if the index falls up to 15% and will be fully exposed to losses from the initial level if it drops more than 15%.
HSBC Securities (USA) Inc. is the agent. Distribution is through Morgan Stanley Wealth Management.
Issuer: | HSBC USA Inc.
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Issue: | Trigger Performance Leveraged Upside Securities
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Underlying index: | S&P 500
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Amount: | $6,883,300
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Maturity date: | Jan. 4, 2018
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If index return is positive, par plus 200% of gain in index, with return capped at 30%; par if index falls by up to 15%; par plus index return with full exposure to losses if index falls more than 15%
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Initial level: | 2,080.35
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Trigger level: | 1,768.30, 85% of initial level
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Pricing date: | Dec. 30
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Settlement date: | Jan. 5
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 3%
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Cusip: | 40434F835
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