Published on 7/17/2012 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $2.53 million trigger autocallables tied to Euro Stoxx 50
By Jennifer Chiou
New York, July 17 - HSBC USA Inc. priced $2,533,700 of 0% trigger autocallable optimization securities due July 19, 2017 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
Beginning on July 19, 2013, the notes will be automatically called at par plus a call return of 12.57% per year if the index closes at or above the initial level on any quarterly observation date.
If the notes are not called and the index finishes at or above the trigger level, 50% of the initial level, the payout at maturity will be par. Otherwise, investors will be exposed to the index's decline from the initial price.
HSBC Securities (USA) Inc. is the underwriter with UBS Financial Services Inc. as dealer.
Issuer: | HSBC USA Inc.
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Issue: | Trigger autocallable optimization securities
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Underlying index: | Euro Stoxx 50
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Amount: | $2,533,700
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Maturity: | July 19, 2017
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Coupon: | 0%
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Price: | Par of $10.00
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Payout at maturity: | Par if the index finishes at or above trigger level; otherwise, full exposure to decline
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Call: | Automatically at par plus 12.57% per year if index closes at or above the initial level on any quarterly observation date
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Initial index level: | 2,259.09
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Trigger level: | 1,129.55, 50% of initial share price
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Pricing date: | July 13
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Settlement date: | July 18
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Underwriter: | HSBC Securities (USA) Inc.
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Dealer: | UBS Financial Services Inc.
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Fees: | 2.5%
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Cusip: | 40433M427
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