Published on 7/31/2018 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $876,300 of 0% three-year trigger gears linked to S&P 500
By Susanna Moon
Chicago, July 31 – HSBC USA Inc. priced $876,300 of 0% trigger gears due July 29, 2021 linked to the S&P 500 index, according to a 424B2 filing 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 1.285 times the gain.
If the index falls by up to the 75% downside threshold level, the payout will be par.
Otherwise, investors will be fully exposed to any losses.
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 asset: | S&P 500 index
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Amount: | $876,300
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Maturity: | July 29, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index gains, par plus 1.285 times the return; if index falls by up to 25%, par; otherwise, 1% loss per 1% decline
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Initial level: | 2,837.44
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Trigger level: | 2,128.08, 75% of initial level
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Pricing date: | July 26
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Settlement date: | July 31
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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: | 40435X843
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