Published on 2/26/2016 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $1.82 million trigger performance securities on S&P 500
By Wendy Van Sickle
Columbus, Ohio, Feb. 26 – HSBC USA Inc. priced $1.82 million of trigger performance securities due Feb. 26, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes above its initial level, the payout at maturity will be par plus 165% of the gain
If the index falls but finishes at or above its trigger level, 75% of the initial level, the payout will be par.
Otherwise, investors will be fully exposed to any losses.
HSBC Securities (USA) Inc. and UBS Financial Services Inc. are the agents.
Issuer: | HSBC USA Inc.
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Issue: | Trigger performance securities
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Underlying index: | S&P 500
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Amount: | $1,815,450
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Maturity: | Feb. 26, 2021
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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 165% of index return; par if index falls by up to 25%; full exposure to losses from initial level if index falls by more than 25%
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Initial level: | 1,929.80
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Trigger level: | 1,447.35, 75% of initial level
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Pricing date: | Feb. 24
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Settlement date: | Feb. 29
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Agents: | HSBC Securities (USA) Inc. and UBS Financial Services Inc.
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Fees: | 0.5%
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Cusip: | 40434N838
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