Published on 3/31/2015 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $36.3 million trigger performance securities on Euro Stoxx
By Jennifer Chiou
New York, March 31 – HSBC USA Inc. priced $36,304,190 of 0% trigger performance securities due March 31, 2025 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par of $10 plus 205.26% of the index return.
If the index return is zero or negative and the final level is greater than or equal to the trigger level, 60% of the initial level, the payout will be par.
If the final level is less than the trigger level, investors will be fully exposed to the decline in the index from its initial level.
HSBC Securities (USA) Inc. is the underwriter. UBS Financial Services Inc. is acting as agent.
Issuer: | HSBC USA Inc.
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Issue: | Trigger performance securities
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Underlying index: | Euro Stoxx 50
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Amount: | $36,304,190
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Maturity: | March 31, 2025
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If index return is positive, par plus 205.26% of index return; if index return is zero or negative and index’s final level is equal to or greater than trigger level, par; if final level is less than trigger level, full exposure to decline in index from initial level
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Initial level: | 3,679.03
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Trigger level: | 2,207.42, 60% of initial level
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Pricing date: | March 27
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Settlement date: | March 31
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Underwriter: | HSBC Securities (USA) Inc.
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Agent: | UBS Financial Services Inc.
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Fees: | 5%
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Cusip: | 40434F132
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