New Issue: HSBC sells $12.79 million trigger gears linked to S&P, Russell

By Wendy Van Sickle

Columbus, Ohio, March 23 – HSBC USA Inc. priced $12.79 million of 0% trigger gears due March 23, 2026 linked to the lesser performing of the S&P 500 index and 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 plus 1.29 times the least performing index gain.

If the least performing index finishes at or below the initial level but at or above the downside threshold, 75% of the initial level, the payout will be par.

Otherwise, investors will be fully exposed to the least performing index decline.

HSBC Securities (USA) Inc. is the underwriter with UBS Financial Services Inc. as selling agent.

Issuer:	HSBC USA Inc.
Issue:	Trigger gears
Underlying indexes:	S&P 500 index and the Russell 2000 index
Amount:	$12,787,800
Maturity:	March 23, 2026
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 1.29 times the least performing index gain; par if least performing index finishes flat or falls by up to 25%; otherwise, fully exposure to least performing index decline
Initial index level:	3,915.46 for S&P and 2,267.586 for Russell
Downside threshold levels:	2,936.6 for S&P and 1,700.69 for Russell, 75% of initial levels
Pricing date:	March 18
Settlement date:	March 23
Underwriter:	HSBC Securities (USA) Inc. with UBS Financial Services Inc. as selling agent
Fees:	3.5%
Cusip:	40438U572

© 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.