Published on 5/2/2021 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $4.88 million trigger gears tied to MSCI EM index
By Kiku Steinfeld
Chicago, May 3 – HSBC USA Inc. priced $4.88 million of 0% trigger gears due April 20, 2026 linked to the MSCI Emerging Markets index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus 1.11 times any index gain.
If the index falls by up to 25%, 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 index: | MSCI Emerging Markets index
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Amount: | $4,883,020
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Maturity: | April 20, 2026
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 1.11 times any index gain; if index falls by up to 25%, par; otherwise, 1% for each 1% decline from the initial level of the index
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Initial level: | 1,348.69
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Downside threshold: | 1,011.52, 75% of initial level
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Pricing date: | April 16
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Settlement date: | April 20
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Agents: | UBS Financial Services Inc. and HSBC Securities (USA) Inc.
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Fees: | 3.5%
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Cusip: | 61772X147
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