Published on 5/29/2018 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $3.33 million CARS tied to basket of real, peso, ruble, rand
By Marisa Wong
Morgantown, W.Va., May 21 – HSBC USA Inc. priced $3.33 million 0% Currency Accelerated Return Securities due May 31, 2022 linked to a basket of currencies relative to the U.S. dollar, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes equal weights of the Brazilian real, Colombian peso, Russian ruble and South African rand.
The payout at maturity will be par plus 1380% of any basket gain.
If the basket falls by up to 30%, the payout will be par.
Investors will be fully exposed to the basket decline if it falls by more than 30%.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Currency Accelerated Return Securities
|
| Underlying basket: | Brazilian real, Colombian peso, Russian ruble and South African rand; equally weighted, relative to U.S. dollar
|
| Amount: | $3,331,000
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| Maturity: | May 31, 2022
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 1380% of any basket gain; par if basket falls by up to 30%; full exposure to any basket decline if it falls by more than 30%
|
| Initial spot rates: | 3.65070 for real, 2,863.24000 for peso, 61.57300 for ruble, 12.57125 for rand
|
| Pricing date: | May 23
|
| Settlement date: | May 29
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 0.5%
|
| Cusip: | 40435FA80
|
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