Published on 11/4/2019 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $4.31 million capped trigger gears tied to S&P 500
By Sarah Lizee
Olympia, Wash., Nov. 4 – HSBC USA Inc. priced $4.31 million of 0% trigger gears due Oct. 31, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus double any index gain, up to a maximum return of 27.5%.
If the index falls by up to 25%, 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 index: | S&P 500 index
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Amount: | $4,307,120
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Maturity: | Oct. 31, 2022
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 2 times any index gain, capped at 27.5%; if index falls by up to 25%, par; otherwise, 1% for each 1% decline
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Initial level: | 3,039.42
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Downside threshold: | 2,279.57, 75% of initial level
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Pricing date: | Oct. 28
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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: | 2.5%
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Cusip: | 40438B822
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