Published on 10/4/2019 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $6.61 million three-year trigger gears linked to MSCI EAFE
By Kiku Steinfeld
Chicago, Oct. 4 – HSBC USA Inc. priced $6.61 million of 0% trigger gears due Sept. 24, 2024 linked to the MSCI EAFE index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus 1.805 times any index gain.
If the index finishes flat or falls by up to 30% of its initial level, the payout will be par.
Otherwise, investors will be fully exposed to any losses.
UBS Financial Services Inc. and HSBC Securities (USA) Inc. are the agents.
Issuer: | HSBC USA Inc.
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Issue: | Trigger gears
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Underlying asset: | MSCI EAFE index
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Amount: | $6,611,000
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Maturity: | Sept. 24, 2024
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | 1.805 times any index gain; if index finishes flat or falls by up to 30%, par; otherwise, 1% loss per 1% decline
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Initial level: | 1,913.69
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Trigger level: | 1,339.58, 70% of initial level
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Pricing date: | Sept. 19
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Settlement date: | Sept. 24
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Agents: | UBS Financial Services Inc. and HSBC Securities (USA) Inc.
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Fees: | 2.5%
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Cusip: | 40438B509
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