Published on 1/14/2016 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $2 million PLUS due 2017 with cap linked to three stocks
By Susanna Moon
Chicago, Jan. 14 – HSBC USA Inc. priced $2 million of 0% Performance Leveraged Upside Securities due Feb. 16, 2017 linked to a basket comprising the common stocks of Lannett Co., Inc., Mallinckrodt plc and Valeant Pharmaceuticals International, Inc., equally weighted, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus triple any basket gain, up to a maximum return of 31.25%.
Investors will be fully exposed to any losses.
HSBC Securities (USA) Inc. is the agent. Morgan Stanley Wealth Management is the distributor.
| Issuer: | HSBC USA Inc.
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| Issue: | Performance Leveraged Upside Securities
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| Underlying basket: | Lannett Co., Inc., Mallinckrodt plc and Valeant Pharmaceuticals International, Inc., equally weighted
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| Amount: | $2 million
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| Maturity: | Feb. 16, 2017
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 300% of any basket gain, capped at 31.25%; exposure to any losses
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| Initial levels: | $35.17 for Lannett, $65.17 for Mallinckrodt and $85.45 for Valeant
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| Pricing date: | Jan. 11
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| Settlement date: | Jan. 14
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| Agent: | HSBC Securities (USA) Inc.
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| Distribution: | Morgan Stanley Wealth Management
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| Fees: | 1.75%
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| Cusip: | 40434K131
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