By Angela McDaniels
Tacoma, Wash., June 29 - HSBC USA Inc. priced $2.62 million of 0% trigger autocallable optimization securities due June 30, 2017 linked to the SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a call return of 8.94% per year if the trust's shares close at or above the initial share price on any quarterly observation date.
If the notes are not called and the trust's shares finish at or above the trigger price, 65% of the initial share price, the payout at maturity will be par. Otherwise, investors will be exposed to the share price decline from the initial price.
HSBC Securities (USA) Inc. is the underwriter with UBS Financial Services Inc. as dealer.
| Issuer: | HSBC USA Inc.
|
| Issue: | Trigger autocallable optimization securities
|
| Underlying trust: | SPDR S&P 500 ETF Trust
|
| Amount: | $2,617,700
|
| Maturity: | June 30, 2017
|
| Coupon: | 0%
|
| Price: | Par of $10.00
|
| Payout at maturity: | Par if the trust's shares finish at or above trigger price; otherwise, full exposure to share price decline
|
| Call: | Automatically at par plus 8.94% per year if shares close at or above initial share price on any quarterly observation date
|
| Initial share price: | $133.17
|
| Trigger price: | $86.56, 65% of initial share price
|
| Pricing date: | June 27
|
| Settlement date: | June 29
|
| Underwriter: | HSBC Securities (USA) Inc.
|
| Dealer: | UBS Financial Services Inc.
|
| Fees: | 2.5%
|
| Cusip: | 40433M476
|
© 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.
