By Angela McDaniels
Tacoma, Wash., Oct. 30 – HSBC USA Inc. priced $7.49 million of 0% trigger performance securities due Oct. 31, 2019 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par of $10 plus 119% of the index return.
If the index return is zero or negative and the final level is greater than or equal to the trigger level, 75% of the initial level, the payout will be par.
If the final level is less than the trigger level, investors will be fully exposed to the decline in the index from its initial level.
HSBC Securities (USA) Inc. is the underwriter. UBS Financial Services Inc. is acting as agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Trigger performance securities
|
| Underlying index: | Russell 2000
|
| Amount: | $7,490,260
|
| Maturity: | Oct. 31, 2019
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If index return is positive, par plus 119% of index return; if index return is zero or negative and index’s final level is equal to or greater than trigger level, par; if final level is less than trigger level, full exposure to decline in index from initial level
|
| Initial level: | 1,149.452
|
| Trigger level: | 862.089, 75% of initial level
|
| Pricing date: | Oct. 28
|
| Settlement date: | Oct. 31
|
| Underwriter: | HSBC Securities (USA) Inc.
|
| Agent: | UBS Financial Services Inc.
|
| Fees: | 3.5%
|
| Cusip: | 40434D384
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
