Published on 10/31/2018 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $614,500 trigger gears tied to iShares MSCI Emerging Markets
By Wendy Van Sickle
Columbus, Ohio, Oct. 31 – HSBC USA Inc. priced $614,500 of 0% trigger gears due Oct. 31, 2023 linked to the iShares MSCI Emerging Markets ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 1.2925 times any ETF gain.
If the ETF falls by up to 30%, 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 ETF: | iShares MSCI Emerging Markets ETF
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Amount: | $614,500
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Maturity: | Oct. 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 1.2925 times any ETF gain; if ETF falls by up to 30%, par; otherwise, 1% for each 1% decline
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Initial level: | $38.67
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Downside threshold: | $27.07, 70% of initial level
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Pricing date: | Oct. 26
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Settlement date: | Oct. 31
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Agents: | UBS Financial Services Inc. and HSBC Securities (USA) Inc.
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Fees: | 3.5%
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Cusip: | 40436A107
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