E-mail us: service@prospectnews.com Or call: 212 374 2800
Bank Loans - CLOs - Convertibles - Distressed Debt - Emerging Markets
Green Finance - High Yield - Investment Grade - Liability Management
Preferreds - Private Placements - Structured Products
 
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.
Issue:Trigger autocallable optimization securities
Underlying index:Euro Stoxx 50
Amount:$2,533,700
Maturity:July 19, 2017
Coupon:0%
Price:Par of $10.00
Payout at maturity:Par if the index finishes at or above trigger level; otherwise, full exposure to decline
Call:Automatically at par plus 12.57% per year if index closes at or above the initial level on any quarterly observation date
Initial index level:2,259.09
Trigger level:1,129.55, 50% of initial share price
Pricing date:July 13
Settlement date:July 18
Underwriter:HSBC Securities (USA) Inc.
Dealer:UBS Financial Services Inc.
Fees:2.5%
Cusip:40433M427

© 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.