Published on 3/24/2017 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $4.56 million enhanced trigger jump notes tied to S&P 500
By Wendy Van Sickle
Columbus, Ohio, March 24 – HSBC USA Inc. priced $4.56 million of 0% enhanced trigger jump securities due March 24, 2022 linked to the least performing of the Russell, 2000 index, the Dow Jones industrial average and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final level of each index is at least 70% of the initial index level, the payout at maturity will be par of $10 plus the greater of the return of the least-performing index and 42%. If the final level of any index is less than 70% of the initial index level, investors will be fully exposed to the least performing index's decline from its initial level.
HSBC Securities (USA) Inc. is the agent, and Morgan Stanley Smith Barney LLC is handling distribution.
| Issuer: | HSBC USA Inc.
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| Issue: | Enhanced trigger jump securities
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| Underlying indexes: | Russell, 2000, Dow Jones industrial average, S&P 500
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| Amount: | $4,557,000
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| Maturity: | March 24, 2022
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If final level least performing index is greater than or equal to trigger level, par plus greater of least-performing index return and 42%; if final level of any index is less than trigger level, full exposure to least performing index's decline from initial level
|
| Initial index levels: | 1,346.546 for Russell, 20,668.01 for Dow, 2,344.02 for S&P
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| Trigger levels: | 942.5822 for Russell, 14,467.607 for Dow, 1,640.814 for S&P, 70% of initial levels
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| Pricing date: | March 21
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| Settlement date: | March 24
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| Agent: | HSBC Securities (USA) Inc.
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| Distribution: | Morgan Stanley Smith Barney LLC
|
| Fees: | 3.5%
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| Cusip: | 40435H632
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