By Wendy Van Sickle
Columbus, Ohio, May 24 – HSBC USA Inc. priced $607,000 of 0% trigger Performance Leveraged Upside Securities due May 23, 2019 linked to the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus double any fund gain, up to a maximum return of 51%.
Investors will receive par if the fund falls by up 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 Morgan Stanley Smith Barney LLC handling distribution.
| Issuer: | HSBC USA Inc.
|
| Issue: | Trigger Performance Leveraged Upside Securities
|
| Underlying fund: | iShares MSCI Emerging Markets ETF
|
| Amount: | $607,000
|
| Maturity: | May 23, 2019
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus double any fund gain, up to a maximum return of 51%; par if fund falls by up to 15%; full exposure to any losses if fund finishes below trigger
|
| Initial share price: | $32.21
|
| Trigger level: | $27.38, 85% of initial level
|
| Pricing date: | May 20
|
| Settlement date: | May 25
|
| Agent: | HSBC Securities (USA) Inc.
|
| Distributor: | Morgan Stanley Smith Barney LLC
|
| Fees: | 3%
|
| Cusip: | 40434V707
|
|
|
© 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.
