Published on 1/28/2016 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $5.23 million trigger return optimization notes on Russell 2000
By Susanna Moon
Chicago, Jan. 28 – HSBC USA Inc. priced $5.23 million of 0% trigger return optimization securities due Jan. 31, 2019 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus 2 times any index gain, up to a maximum return of 39.5%.
If the index falls by up to the trigger level, 75% of the initial level, the payout will be par.
Otherwise, investors will be fully exposed to any losses.
UBS Financial Services Inc. and HSBC Securities (USA) Inc. are the underwriters.
Issuer: | HSBC USA Inc.
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Issue: | Trigger return optimization securities
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Underlying index: | S&P 500
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Amount: | $5,233,330
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Maturity: | Jan. 31, 2019
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 200% of any index gain, capped at 39.5%; par if index falls by up to 25%; full exposure to any losses if index finishes below trigger level
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Initial index level: | 1,903.63
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Trigger level: | 1,522.90, 80% of initial level
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Pricing date: | Jan. 26
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Settlement date: | Jan. 29
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Underwriters: | UBS Financial Services Inc. and HSBC Securities (USA) Inc.
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Fees: | 2.5%
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Cusip: | 40434K172
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