Published on 2/4/2016 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $5.97 million trigger jump notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., Feb. 4 – HSBC USA Inc. priced $5.97 million of 0% trigger jump securities due Feb. 3, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par of $10 plus the greater of the index return and 49.5%. Investors will receive par if the index declines by 35% or less and will be exposed to losses from the initial level if the index declines by more than 35%.
HSBC Securities (USA) Inc. is the agent. Distribution is through Morgan Stanley Smith Barney.
Issuer: | HSBC USA Inc.
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Issue: | Trigger jump securities
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Underlying index: | S&P 500
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Amount: | $5,970,470
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Maturity: | Feb. 3, 2022
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If index return is positive, par plus greater of index return and 49.5%; par if index’s final level is less than initial level but greater than or equal to trigger level; exposure to losses from initial level if final index level is less than trigger level
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Initial index level: | 1,940.24
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Downside threshold: | 1,261.16, 65% of initial index level
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Pricing date: | Jan. 29
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Settlement date: | Feb. 3
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Agent: | HSBC Securities (USA) Inc.
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Distribution: | Morgan Stanley Smith Barney
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Fees: | 3.5%
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Cusip: | 40434K164
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