By Toni Weeks
San Luis Obispo, Calif., July 31 – HSBC USA Inc. priced $4 million of 0% trigger performance securities due July 31, 2020 linked to the iShares MSCI EAFE exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus 150% of any fund gain.
If the fund falls by up to the 75% trigger level, the payout will be par.
Otherwise, investors will be fully exposed to any losses.
HSBC Securities (USA) Inc. is the underwriter. UBS Financial Services Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Trigger performance securities
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Underlying fund: | iShares MSCI EAFE
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Amount: | $3,999,920
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Maturity: | July 31, 2020
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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 150% of fund return; par if fund falls by up to 25%; full exposure to losses from initial level if fund falls by more than 25%
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Initial price: | $64.22
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Trigger price: | $48.17, 75% of initial price
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Pricing date: | July 28
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Settlement date: | July 31
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Underwriter: | HSBC Securities (USA) Inc.
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Agent: | UBS Financial Services Inc.
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Fees: | 3.5%
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Cusip: | 40434E770
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