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HSBC prices $3.01 million of jump securities linked to WisdomTree Japan Hedged Equity fund
By Sheri Kasprzak
New York, Feb. 29 – Among the more interesting structured products offerings Monday, HSBC USA Inc. brought $3.01 million of zero-coupon jump securities linked to the WisdomTree Japan Hedged Equity fund.
The securities are due Aug. 29, 2016 and pay par of $10 plus the 11% upside payment if the fund finishes above the initial level. Investors are exposed to any losses, said a filing with the Securities and Exchange Commission.
HSBC Securities (USA) Inc. is the agent for the deal with Morgan Stanley Wealth Management distributing.
The net asset value of the fund was $42.28 as of Friday.
The fund has lost 7.79% over the past month and 8.5% over the past three months but has had a 27.06% positive return since inception in June 2006.
The fund aims to provide exposure to the Japanese equity market while hedging fluctuations between the dollar and the yen.
The fund includes exposure to Japan Tobacco Inc., Toyota Motor Corp., Canon Inc., Mitsubishi UFJ Financial Group, Inc., Takeda Pharmaceutical Co. Ltd., Mizuho Financial Group Inc., Nissan Motor Co. Ltd., Honda Motor Co. Ltd., Fanuc Ltd. and Mitsui & Co. Ltd.
UBS prices S&P-linked notes
In other pricing news, UBS AG, London Branch priced $3.41 million of 0% trigger return optimization securities linked to the S&P 500 index, said an SEC filing.
The securities are due Feb. 28, 2019.
If the index finishes at or above the initial level, the payout at maturity will be par plus double any gain in the index up to a 39.6% maximum return.
Investors receive par if the index falls by up to 20% and will be fully exposed to losses if the index finishes below the 80% trigger level.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
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