By Marisa Wong
Madison, Wis., Oct. 23 – HSBC USA Inc. priced $1.02 million of 0% trigger Performance Leveraged Upside Securities due Oct. 23, 2017 linked to the iShares U.S. Real Estate exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus double any fund gain, up to a maximum return of 63%.
Investors will receive par if the fund falls by to 15% and will be fully exposed to any losses if the fund finishes below the 85% trigger level.
HSBC Securities (USA) Inc. is the agent with distribution through Morgan Stanley Wealth Management.
| Issuer: | HSBC USA Inc.
|
| Issue: | Trigger Performance Leveraged Upside Securities
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| Underlying fund: | iShares U.S. Real Estate ETF
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| Amount: | $1.02 million
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| Maturity date: | Oct. 23, 2017
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | Par plus 200% of any fund gain, capped at 63%; par if fund falls by up to 15%; otherwise, full exposure to losses
|
| Initial price: | $72.42
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| Trigger level: | $61.56, 85% of the initial price
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| Pricing date: | Oct. 20
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| Settlement date: | Oct. 23
|
| Agent: | HSBC Securities (USA) Inc. with distribution through Morgan Stanley Wealth Management
|
| Fees: | 3%
|
| Cusip: | 40434D533
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