By Toni Weeks
San Luis Obispo, Calif., July 31 – HSBC USA Inc. priced $4 million of 0% trigger performance securities due July 31, 2020 linked to the iShares MSCI EAFE exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus 150% of any fund gain.
If the fund falls by up to the 75% 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 the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Trigger performance securities
|
| Underlying fund: | iShares MSCI EAFE
|
| Amount: | $3,999,920
|
| Maturity: | July 31, 2020
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If fund return is positive, par plus 150% of fund return; par if fund falls by up to 25%; full exposure to losses from initial level if fund falls by more than 25%
|
| Initial price: | $64.22
|
| Trigger price: | $48.17, 75% of initial price
|
| Pricing date: | July 28
|
| Settlement date: | July 31
|
| Underwriter: | HSBC Securities (USA) Inc.
|
| Agent: | UBS Financial Services Inc.
|
| Fees: | 3.5%
|
| Cusip: | 40434E770
|
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