By Susanna Moon
Chicago, Dec. 2 – HSBC USA Inc. priced $4.7 million of 0% trigger performance securities due Nov. 29, 2019 linked to the PowerShares S&P 500 Low Volatility Portfolio exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus 148.43% of any fund gain.
Investors will receive par if the shares fall by up to 25% and will be fully exposed to any losses if the fund finishes below the 75% trigger level.
HSBC Securities (USA) Inc. and UBS Financial Services Inc. are the agents.
| Issuer: | HSBC USA Inc.
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| Issue: | Trigger performance securities
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| Underlying fund: | PowerShares S&P 500 Low Volatility Portfolio ETF
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| Amount: | $4,695,390
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| Maturity: | Nov. 29, 2019
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | Par plus 148.43% of any fund gain; par if fund falls by up to 25%; full exposure to any losses if fund finishes below trigger level
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| Initial level: | $37.39
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| Trigger level: | $28.04, 75% of initial level
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| Pricing date: | Nov. 24
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| Settlement date: | Nov. 28
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| Agents: | HSBC Securities (USA) Inc. and UBS Financial Services Inc.
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| Fees: | 3.5%
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| Cusip: | 40434F108
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