Published on 12/29/2017 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $12.42 million trigger PLUS linked to S&P 500 index
By Wendy Van Sickle
Columbus, Ohio, Dec. 29 – HSBC USA Inc. priced $12.42 million of 0% trigger Performance Leveraged Upside Securities due Jan. 3, 2024 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 of $10 plus 131.45% of the index return. Investors will receive par if the index declines by 35% or less and will be fully exposed to the index decline from its initial share price if it falls by more than 35%.
HSBC Securities (USA) Inc. is the agent. Distribution is through Morgan Stanley Wealth Management.
Issuer: | HSBC USA Inc.
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Issue: | Trigger Performance Leveraged Upside Securities
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Underlying index: | S&P 500
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Amount: | $12,416,770
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Maturity: | Jan. 3, 2024
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Coupon: | 0%
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Price: | Par of $10.00
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Payout at maturity: | If index level is greater than initial level, par plus 131.45% of index return; if final index level is less than or equal to initial level but greater than or equal to trigger level, par; if final index level is less than trigger level, exposure to decline from initial share price
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Initial index level: | 2,687.54
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Trigger level: | 1,746.901, 65% of initial level
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Pricing date: | Dec. 28
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Settlement date: | Jan. 3
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Agent: | HSBC Securities (USA) Inc.
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Distribution: | Morgan Stanley Wealth Management
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Fees: | 3.5%
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Cusip: | 40435J836
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