Published on 8/30/2016 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $8.38 million trigger step notes linked to Euro Stoxx 50
By Angela McDaniels
Tacoma, Wash., Aug. 30 – HSBC USA Inc. priced $8.38 million of 0% trigger step securities due Aug. 31, 2020 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is zero or positive, the payout at maturity will be par of $10 plus the greater of 46% and the index return. Investors will receive par if the index declines by 25% or less and will be fully exposed to the index’s decline from its initial level if it declines beyond 25%.
HSBC Securities (USA) Inc. is the underwriter. UBS Financial Services Inc. is acting as agent.
Issuer: | HSBC USA Inc.
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Issue: | Trigger step securities
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Underlying index: | Euro Stoxx 50
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Amount: | $8,377,890
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Maturity: | Aug. 31, 2020
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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 zero or positive, par plus greater of 46% and index return; par if index declines by 25% or less; full exposure to decline from initial level if index declines beyond 25%
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Initial level: | 3,010.36
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Downside threshold: | 2,257.77, 75% of initial level
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Pricing date: | Aug. 26
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Settlement date: | Aug. 31
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Underwriter: | HSBC Securities (USA) Inc.
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Agent: | UBS Financial Services Inc.
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Fees: | 3%
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Cusip: | 40434V194
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