Published on 2/27/2018 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $18.98 million capped gears on iShares Energy Select Sector SPDR
By Wendy Van Sickle
Columbus, Ohio, Feb. 27 – HSBC USA Inc. priced $18.98 million of 0% capped buffered gears due April 30, 2019 linked to the iShares Energy Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus triple any fund gain, up to a maximum return of 21%.
Investors will be fully exposed to any fund decline.
UBS Financial Services Inc. and HSBC Securities (USA) Inc. are the agents.
Issuer: | HSBC USA Inc.
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Issue: | Capped gears
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Underlying fund: | iShares Energy Select Sector SPDR fund
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Amount: | $18,982,500
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Maturity: | April 30, 2019
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 3 times any fund gain, capped at 21%; full exposure to losses
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Initial level: | $68.80
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Pricing date: | Feb. 23
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Settlement date: | Feb. 28
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Agents: | HSBC Securities (USA) Inc. and UBS Financial Services Inc.
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Fees: | 2%
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Cusip: | 40435J216
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