Published on 4/30/2015 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $1.88 million return optimization notes linked to iShares MSCI EM
By Angela McDaniels
Tacoma, Wash., April 30 – HSBC USA Inc. priced $1.88 million of 0% return optimization securities due May 31, 2016 linked to the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF return is positive, the payout at maturity will be par of $10 plus 300% of the ETF return, subject to a maximum return of 14.5%. If the ETF return is negative, investors will be fully exposed to the decline.
HSBC Securities (USA) Inc. is the underwriter with UBS Financial Services Inc. as agent.
Issuer: | HSBC USA Inc.
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Issue: | Return optimization securities
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Underlying ETF: | iShares MSCI Emerging Markets ETF
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Amount: | $1,877,700
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Maturity: | May 31, 2016
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 300% of any ETF gain, up to 14.5% maximum return; exposure to any ETF decline
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Initial share price: | $44.02
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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: | 2%
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Cusip: | 40434G668
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