By Marisa Wong
Madison, Wis., June 29 – HSBC USA Inc. priced $7.06 million of 0% trigger performance securities due June 30, 2025 linked to the S&P/TSX 60 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus 208% of any index gain.
If the index falls by up to the 50% trigger level, the payout will be par.
Otherwise, investors will be fully exposed to any losses.
HSBC Securities (USA) Inc. is the underwriter. UBS Financial Services Inc. is agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Trigger performance securities
|
| Underlying index: | S&P/TSX 60 index
|
| Amount: | $7,055,000
|
| Maturity: | June 30, 2025
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If index return is positive, par plus 208% 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%
|
| Initial index level: | 867.96
|
| Trigger level: | 433.98, 50% of initial level
|
| Pricing date: | June 25
|
| Settlement date: | June 30
|
| Underwriter: | HSBC Securities (USA) Inc.
|
| Agent: | UBS Financial Services Inc.
|
| Fees: | 5%
|
| Cusip: | 40434E861
|
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