Published on 8/17/2016 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $3 million trigger PLUS linked to FTSE 100 index
By Tali Rackner
Norfolk, Va., Aug. 17 – HSBC USA Inc. priced $3 million of 0% trigger Performance Leveraged Upside Securities due Feb. 19, 2020 linked to the FTSE 100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus 1.5 times any index gain.
Investors will receive par if the index falls by up to 41% and will be fully exposed to any losses if the index finishes below the 59% trigger level.
HSBC Securities (USA) Inc. is the agent. Distribution is through Morgan Stanley Wealth Management.
Issuer: | HSBC USA Inc.
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Issue: | Trigger Performance Leveraged Upside Securities
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Underlying index: | FTSE 100
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Amount: | $3 million
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Maturity: | Feb. 19, 2020
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If index finishes above initial level, par plus 1.5 times any index return; if index falls by up to trigger level, par; otherwise, full exposure to decline
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Initial index level: | 6,941.19
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Trigger level: | 4,095.30, 59% of initial levels
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Pricing date: | Aug. 15
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Settlement date: | Aug. 18
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Agent: | HSBC Securities (USA) Inc.
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Distribution: | Morgan Stanley Wealth Management
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Fees: | 2.5%
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Cusip: | 40434V111
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