Published on 4/30/2015 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $2.14 million trigger performance notes on iShares MSCI EAFE
By Toni Weeks
San Luis Obispo, Calif., April 30 – HSBC USA Inc. priced $2.14 million of 0% trigger performance securities due April 30, 2019 linked to the iShares MSCI EAFE exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the fund return is positive, the payout at maturity will be par of $10 plus 171% of the fund return. Investors will receive par if the fund falls by up to 20% and will be fully exposed to losses from the initial level if it falls by more than 20%.
HSBC Securities (USA) Inc. is the underwriter with UBS Financial Services Inc. as agent.
Issuer: | HSBC USA Inc.
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Issue: | Trigger performance securities
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Underlying fund: | iShares MSCI EAFE ETF
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Amount: | $2,138,770
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Maturity: | April 30, 2019
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If fund return is positive, par plus 171% of fund return; par if fund falls by up to 20%; full exposure to losses from initial level if fund falls by more than 20%
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Initial level: | $67.75
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Trigger level: | $54.20, 80% of initial level
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Pricing date: | April 27
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Settlement date: | April 30
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Underwriter: | HSBC Securities (USA) Inc.
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Agent: | UBS Financial Services Inc.
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Fees: | None
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Cusip: | 40434G643
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