Published on 1/28/2016 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $75,650 trigger performance notes on Vanguard FTSE EM fund
By Devika Patel
Knoxville, Tenn., Jan. 28 – HSBC USA Inc. priced $75,650 of 0% trigger performance securities due Jan. 29, 2021 linked to the Vanguard FTSE Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus 162% of any fund gain.
If the fund declines by up to 25%, the payout will be par.
Otherwise, investors will be fully exposed to any losses.
HSBC Securities (USA) Inc. is the distributer with UBS Financial Services Inc. as agent.
Issuer: | HSBC USA Inc.
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Issue: | Trigger performance securities
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Underlying ETF: | Vanguard FTSE Emerging Markets
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Amount: | $75,650
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Maturity: | Jan. 29, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If fund return is positive, par plus 162% of fund gain; if fund declines by up to 25%, par; otherwise, full exposure to any declines
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Initial price: | $29.50
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Trigger price: | $22.13, 75% of initial level
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Pricing date: | Jan. 26
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Settlement date: | Jan. 29
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Agent: | HSBC Securities (USA) Inc. and UBS Financial Services Inc.
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Fees: | 0.5%
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Cusip: | 40434K180
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