Published on 7/5/2018 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $25.97 million dual directional trigger jump notes on S&P
By Sarah Lizee
Olympia, Wash., July 5 – HSBC USA Inc. priced $25.97 million of 0% dual directional trigger jump securities due July 6, 2023 linked to the S&P 500 index, according to a 424B2 with the Securities and Exchange Commission.
If the index finishes at or above its initial level, the payout at maturity will be par of $10 plus the greater of the index return and 35.25%.
If the index falls but finishes at or above the trigger level, 80% of the initial index level, the payout will be par plus the absolute value of the index return.
If the index finishes below the trigger level, investors will lose 1% for every 1% that the index declines from its initial level.
HSBC Securities (USA) Inc. is the agent. Distribution is through Morgan Stanley Wealth Management.
Issuer: | HSBC USA Inc.
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Issue: | Dual directional trigger jump securities
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Underlying index: | S&P 500
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Amount: | $25,973,100
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Maturity: | July 6, 2023
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If index finishes at or above initial level, par plus greater of index return and 35.25%; if index falls but finishes at or above trigger level, par plus absolute value of index return; if index finishes below trigger level, 1% loss for every 1% that index declines from initial level
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Initial index level: | 2,718.37
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Trigger level: | 2,174.696, 80% of initial level
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Pricing date: | June 29
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Settlement date: | July 5
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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: | 40435M144
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