Published on 1/3/2018 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $25.32 million six-year trigger PLUS linked to S&P 500
By Marisa Wong
Morgantown, W.Va., Jan. 3 – HSBC USA Inc. priced $25.32 million of 0% trigger Performance Leveraged Upside Securities due Dec. 29, 2023 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 124% of the index return. Investors will receive par if the index declines by 40% or less and will be fully exposed to the index decline from its initial level if it falls by more than 40%.
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: | $25,315,000
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Maturity: | Dec. 29, 2023
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 124% of any index gain; par if the index declines by 40% or less; full exposure to the index decline from its initial level if it falls by more than 40%
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Initial index level: | 2,680.50
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Trigger level: | 1,608.30, 60% of initial level
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Pricing date: | Dec. 26
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Settlement date: | Dec. 29
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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: | 40435J596
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