Published on 7/20/2017 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $3.38 million trigger PLUS notes due 2022 on worst of Nikkei 225, Topix
By Wendy Van Sickle
Columbus, Ohio, July 20 – HSBC USA Inc. priced $3.38 million of 0% Trigger Performance Leveraged Upside Securities due July 25, 2022 linked to the worst performing of the Nikkei 225 index and the Topix index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 145% of any gain in the worst performing index.
Investors will receive par if the worst performing index falls by up to 40% and will lose 1% for each 1% decline of that index from its initial level if the index drops below the 60% trigger level.
HSBC Securities (USA) Inc. is the agent, with Morgan Stanley Wealth Management handling distribution.
Issuer: | HSBC USA Inc.
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Issue: | Trigger Performance Leveraged Upside Securities
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Underlying indexes: | Nikkei 225, Topix
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Amount: | $3,375,000
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Maturity: | July 25, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If final level of each is greater than initial index level, par plus 145% of lesser-performing index return; if lesser-performing index falls by up to trigger level, par; otherwise, full exposure to loss of lesser-performing index
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Initial index levels: | 20,144.59 for Nikkei, 1,633.01 for Topix
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Trigger levels: | 12,086.754 for Nikkei, 979.806 for Topix, 60% of initial levels
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Pricing date: | July 20
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Settlement date: | July 25
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Agent: | HSBC Securities (USA) Inc. with Morgan Stanley Wealth Management handling distribution
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Fees: | 3%
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Cusip: | 40435H517
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