Published on 1/3/2017 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $2.44 million trigger gears tied to S&P 500
By Marisa Wong
Morgantown, W.Va., Jan. 3 – HSBC USA Inc. priced $2.44 million of 0% trigger gears due Dec. 31, 2026 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 1.62 times any index gain.
Investors will receive par if the index falls by up to 50% and will be fully exposed to any losses if the index finishes below the 50% downside threshold level.
UBS Financial Services Inc. and HSBC Securities (USA) Inc. are the agents.
Issuer: | HSBC USA Inc.
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Issue: | Trigger gears
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Underlying index: | S&P 500 index
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Amount: | $2,444,920
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Maturity: | Dec. 31, 2026
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.62 times any index gain; par if the index falls by up to 50%; full exposure to any losses if the index finishes below the downside threshold
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Initial index level: | 2,268.88
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Downside threshold: | 1,134.44, 50% of initial level
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Pricing date: | Dec. 27
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Settlement date: | Dec. 30
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Agents: | UBS Financial Services Inc. and HSBC Securities (USA) Inc.
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Fees: | 5%
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Cusip: | 40435B171
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