Published on 4/4/2018 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $1.12 million five-year trigger gears tied to Russell 2000
By Marisa Wong
Morgantown, W.Va., April 4 – HSBC USA Inc. priced $1.12 million of 0% trigger gears due March 31, 2023 linked to the Russell 2000 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 1.265 times the index return.
If the index falls by up to 25%, the payout will be par.
Investors will lose 1% for every 1% decline below the initial level if the index finishes below the 75% 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: | Russell 2000
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Amount: | $1,119,000
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Maturity: | March 31, 2023
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 1.265 times any index gain; par if index falls by up to 25%; otherwise, full exposure to losses
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Initial index level: | 1,543.717
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Downside threshold: | 1,157.788, 75% of initial level
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Pricing date: | March 26
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Settlement date: | March 29
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Agents: | UBS Financial Services Inc. and HSBC Securities (USA) Inc.
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Fees: | None
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Cusip: | 40435M763
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