Published on 10/2/2018 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $15.52 million capped gears linked to Russell 2000 index
By Wendy Van Sickle
Columbus, Ohio, Oct. 2 – HSBC USA Inc. priced $15.52 million of 0% capped gears due Nov. 29, 2019 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is greater than zero, the payout at maturity will be par plus 3 times the index return, subject to a maximum return of 12.6%. If the index return is less than zero, investors will have full exposure to the 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 index: | Russell 2000
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Amount: | $15,519,530
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Maturity: | Nov. 29, 2019
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 3 times any index gain, return capped at 12.6%; full exposure to any losses
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Initial level: | 1,708.805
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Pricing date: | Sept. 25
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Settlement date: | Sept. 28
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Agents: | UBS Financial Services Inc. and HSBC Securities (USA) Inc.
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Fees: | 2%
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Cusip: | 40435X298
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