Published on 5/8/2019 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $6.1 million trigger step securities tied to S&P 500
By Wendy Van Sickle
Columbus, Ohio, May 8 – HSBC USA Inc. priced $6.1 million of 0% trigger step securities due April 28, 2023 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 greater of the gain and the 23.42% step return.
Investors will receive par if the index falls by up to 25% and will be fully exposed to any losses if the index finishes below the 75% trigger level.
UBS Financial Services Inc. and HSBC Securities (USA) Inc. are the agents.
Issuer: | HSBC USA Inc.
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Issue: | Trigger step securities
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Underlying index: | S&P 500
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Amount: | $6,104,200
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Maturity: | April 28, 2023
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If index gains, par plus greater of return and 23.42%; par if the index falls by up to 25%; full exposure to any losses if the index finishes below the trigger level
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Initial level: | 2,926.17
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Trigger level: | 2,194.63, 75% of initial level
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Pricing date: | April 25
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Settlement date: | April 30
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Agents: | UBS Financial Services Inc. and HSBC Securities (USA) Inc.
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Fees: | 3%
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Cusip: | 40436B709
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