Published on 4/29/2015 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $5.71 million trigger performance notes on Russell 2000
By Marisa Wong
Madison, Wis., April 29 – HSBC USA Inc. priced $5.71 million of 0% trigger performance securities due April 30, 2025 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par of $10 plus 137.7% of the index return. Investors will receive par if the index falls by up to 50% and will be fully exposed to losses from the initial level if it falls by more than 50%.
HSBC Securities (USA) Inc. is the underwriter with UBS Financial Services Inc. as agent.
Issuer: | HSBC USA Inc.
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Issue: | Trigger performance securities
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Underlying index: | Russell 2000
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Amount: | $5,710,310
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Maturity: | April 30, 2025
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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 137.7% of index return; par if index falls by up to 50%; full exposure to losses from initial level if index falls by more than 50%
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Initial level: | 1,252.700
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Trigger level: | 626.350, 50% of initial level
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Pricing date: | April 27
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Settlement date: | April 30
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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: | 40434G635
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