Published on 11/26/2014 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $4.84 million trigger return optimization notes on Russell
By Jennifer Chiou
New York, Nov. 26 – HSBC USA Inc. priced $4,839,400 of 0% trigger return optimization securities due Nov. 30, 2017 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par of $10 plus 1.5 times the index return, subject to a maximum return of 38.81%.
If the index return is zero or negative and the final index level is greater than or equal to the trigger level, 75% of the initial index level, the payout will be par.
If the final index level is less than the trigger level, investors will have full exposure to the index’s decline.
HSBC Securities (USA) Inc. is the underwriter with UBS Financial Services Inc. as agent.
Issuer: | HSBC USA Inc.
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Issue: | Trigger return optimization securities
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Underlying index: | Russell 2000
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Amount: | $4,839,400
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Maturity: | Nov. 30, 2017
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If index return is positive, par plus 1.5 times index return, subject to maximum return of 38.81%; if index return is zero or negative and final index level is greater than or equal to trigger level, par; if final index level is less than trigger level, full exposure to index’s decline
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Initial index level: | 1,186.94
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Trigger level: | 890.205, 75% of initial level
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Pricing date: | Nov. 24
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Settlement date: | Nov. 28
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Underwriter: | HSBC Securities (USA) Inc.
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Agent: | UBS Financial Services Inc.
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Fees: | 2.5%
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Cusip: | 40434F306
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