Published on 3/4/2015 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $18.95 million PLUS linked to Energy Select Sector SPDR
By Angela McDaniels
Tacoma, Wash., March 4 – HSBC USA Inc. $18.95 million of 0% Performance Leveraged Upside Securities due June 2, 2016 linked to the Energy Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the fund return is positive, the payout at maturity will be par of $10 plus 300% of the fund return, subject to a maximum return of 18%. If the fund return is negative, investors will have one-to-one exposure to the decline.
HSBC Securities (USA) Inc. is the agent. Distribution is through Morgan Stanley Wealth Management.
Issuer: | HSBC USA Inc.
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Issue: | Performance Leveraged Upside Securities
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Underlying ETF: | Energy Select Sector SPDR Fund
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Amount: | $18,945,260
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Maturity: | June 2, 2016
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Coupon: | 0%
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Price: | Par of $10.00
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Payout at maturity: | If fund return is positive, par plus 300% of fund return, subject to 18% maximum return; if fund return is negative, one-to-one exposure to decline
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Initial share price: | $79.02
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Pricing date: | Feb. 27
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Settlement date: | March 4
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Agent: | HSBC Securities (USA) Inc.
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Distribution: | Morgan Stanley Wealth Management
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Fees: | 1.8%
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Cusip: | 40434F439
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