Published on 8/31/2017 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $1.33 million five-year trigger gears linked to S&P 500
By Marisa Wong
Morgantown, W.Va., Aug. 31 – HSBC USA Inc. priced $1.33 million of 0% trigger gears due Aug. 31, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus 1.15 times the index gain.
If the index falls by up to 40%, the payout will be par.
Investors will lose 1% for every 1% decline below the initial level if the index finishes below the 60% downside threshold.
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
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Amount: | $1,333,500
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Maturity: | Aug. 31, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.15 times any index gain; par if index falls by up to 40%; otherwise, full exposure to losses
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Initial index level: | 2,444.24
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Downside threshold: | 1,466.54, 60% of initial level
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Pricing date: | Aug. 28
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Settlement date: | Aug. 31
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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: | 40435G717
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