Published on 7/10/2017 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $2.97 million trigger gears tied to iShares MSCI EAFE ETF
By Marisa Wong
Morgantown, W.Va., July 10 – HSBC USA Inc. priced $2.97 million of 0% trigger gears due June 30, 2022 linked to the iShares MSCI EAFE exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the fund return is positive, the payout at maturity will be par of $10 plus 1.56 times the fund gain. Investors will receive par if the fund declines by 25% or less and will lose 1% for each 1% decline from its initial level if the fund declines by more than 25%.
HSBC Securities (USA) Inc. and UBS Financial Services Inc. are the agents.
Issuer: | HSBC USA Inc.
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Issue: | Trigger gears
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Underlying ETF: | iShares MSCI EAFE ETF
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Amount: | $2,971,400
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Maturity: | June 30, 2022
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If the fund return is positive, par plus 1.56 times the fund gain; par if the fund declines by 25% or less; 1% loss for each 1% decline from its initial level if the fund declines by more than 25%
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Initial price: | $65.24
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Downside threshold: | $48.93, 75% of initial price
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Pricing date: | June 27
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Settlement date: | June 30
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Agents: | HSBC Securities (USA) Inc. and UBS Financial Services Inc.
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Fees: | 3.5%
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Cusip: | 40435D359
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