Published on 4/16/2013 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $7.34 million trigger autocallables linked to Euro Stoxx
By Jennifer Chiou
New York, April 16 - HSBC USA Inc. priced $7,335,010 of 0% trigger autocallable optimization securities due April 18, 2018 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
Beginning on April 23, 2014, the notes will be automatically called at par of $10 plus a call return of 9% per year if the index closes at or above the initial index level on any quarterly observation date.
If the notes are not called and the index finishes at or above the trigger level, 59% of the initial level, the payout at maturity will be par. Otherwise, investors will be exposed to the index's decline from its initial level.
HSBC Securities (USA) Inc. is the underwriter with UBS Financial Services Inc. as agent.
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: | $7,335,010
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Maturity: | April 18, 2018
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par if index finishes at or above trigger price; otherwise, full exposure to index decline
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Call: | Beginning on April 23, 2014, automatically at par plus 9% per year if index closes at or above initial level on any quarterly observation date
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Initial index level: | 2,633.47
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Trigger level: | 1,553.75, 59% of initial share price
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Pricing date: | April 12
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Settlement date: | April 17
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Underwriter: | HSBC Securities (USA) Inc.
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Agent: | UBS Financial Services Inc.
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Fees: | 2.5%
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Cusip: | 40433X886
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