By Angela McDaniels
Tacoma, Wash., July 30 – HSBC USA Inc. priced $1.32 million of 0% trigger performance securities due July 31, 2017 linked to the Vanguard FTSE Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF return is positive, the payout at maturity will be par of $10 plus 122% of the ETF return.
If the ETF return is zero or negative and the ETF’s final share price is equal to or greater than the trigger share price, 75% of the initial share price, the payout will be par.
If the final share price is less than the trigger share price, investors will be fully exposed to the decline in the ETF from its initial share price.
HSBC Securities (USA) Inc. is the underwriter, and UBS Financial Services Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Trigger performance securities
|
| Underlying ETF: | Vanguard FTSE Emerging Markets ETF
|
| Amount: | $1,322,500
|
| Maturity: | July 31, 2017
|
| Coupon: | 0%
|
| Price: | Par of $10.00
|
| Payout at maturity: | If ETF return is positive, par plus 122% of ETF return; if ETF return is zero or negative and ETF’s final share price is equal to or greater than trigger share price, par; if final share price is less than trigger share price, full exposure to decline in ETF from initial share price
|
| Initial share price: | $45.14
|
| Trigger price: | $33.86, 75% of initial share price
|
| Pricing date: | July 28
|
| Settlement date: | July 31
|
| Underwriter: | HSBC Securities (USA) Inc.
|
| Agent: | UBS Financial Services Inc.
|
| Fees: | None
|
| Cusip: | 40434C238
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
