Published on 8/21/2018 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $1.99 million trigger gears due 2022 tied to indexes, fund
By Sarah Lizee
Olympia, Wash., Aug. 21 – HSBC USA Inc. priced $1.99 million of 0% trigger gears due Aug. 22, 2022 linked to a basket of equally-weighted indexes and a fund, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the Euro Stoxx 50 index, the Nikkei 225 index, the FTSE 100 index, the S&P/ASX 200 index, the Hang Seng index and the WisdomTree India Earnings Fund, each with a 20% weight.
The payout at maturity will be par of $10 plus 1.83 times any basket gain.
Investors will receive par if the basket falls by up to 40% and be fully exposed to any losses if it finishes below its 60% trigger level.
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 assets: | Euro Stoxx 50 index, Nikkei 225 index, FTSE 100 index, S&P/ASX 200 index, Hang Seng index and WisdomTree India Earnings Fund, each with 20% weight
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Amount: | $1,988,750
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Maturity: | Aug. 22, 2022
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 1.83 times any basket gain; par if basket falls by up to 40%; otherwise, full exposure to losses
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Initial levels: | 3,372.94 for Euro Stoxx 50, 22,270.38 for Nikkei 225, 7,558.59 for FTSE 100, 6,339.23 for S&P/ASX 200, 27,213.41 for Hang Seng and $26.53 for WisdomTree India Earnings Fund
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Trigger level: | 60% of initial level
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Pricing date: | Aug. 17
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Settlement date: | Aug. 22
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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: | 40435X520
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