By Angela McDaniels
Tacoma, Wash., Nov. 5 - HSBC USA Inc. priced $3 million of multi-coupon securities due Nov. 6, 2015 linked to a basket of exchange-traded funds, according to an FWP filing with the Securities and Exchange Commission.
The basket includes the iShares MSCI Emerging Markets index fund, Market Vectors Gold Miners ETF, Semiconductor Holdrs trust, Energy Select Sector SPDR fund, Financial Select Sector SPDR fund and Health Care SPDR fund.
The notes will pay a coupon in November of each year. If any of the basket funds closes below its trigger price - 80% of its initial share price - on the coupon valuation date, the coupon for that year will be 1%. Otherwise, the coupon will be 6%.
The payout at maturity will be par.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Multi-coupon securities
|
| Underlying ETFs: | iShares MSCI Emerging Markets index fund, Market Vectors Gold Miners ETF, Semiconductor Holdrs trust, Energy Select Sector SPDR fund, Financial Select Sector SPDR fund and Health Care SPDR fund
|
| Amount: | $3 million
|
| Maturity: | Nov. 6, 2015
|
| Coupon: | If any basket ETF closes below its trigger price on the coupon valuation date, 1%; otherwise, 6%; payable annually
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Initial share prices: | $28.30 for iShares MSCI Emerging Markets; $46.18 for Market Vectors Gold Miners; $23.88 for Semiconductor Holdrs; $56.32 for Energy Select; $14.20 for Financial Select; $28.18 for Health Care SPDR
|
| Trigger prices: | For each ETF, 80% of its initial price
|
| Pricing date: | Nov. 3
|
| Settlement date: | Nov. 6
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 1.5%
|
© 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.
