Published on 4/10/2017 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $6.98 million capped gears linked to iShares MSCI EM
By Marisa Wong
Morgantown, W.Va., April 10 – HSBC USA Inc. priced $6.98 million of 0% capped gears due May 31, 2018 linked to the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the fund return is greater than zero, the payout at maturity will be par of $10 plus 3 times the fund return, subject to a maximum gain of 18%. Investors will be fully exposed to any fund decline.
UBS Financial Services Inc. and HSBC Securities (USA) Inc. are the agents.
Issuer: | HSBC USA Inc.
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Issue: | Capped gears
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Underlying ETF: | iShares MSCI Emerging Markets ETF
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Amount: | $6,981,500
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Maturity: | May 31, 2018
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the fund return is greater than zero, par plus 3 times the fund return, subject to a maximum gain of 18%; full exposure to any fund decline
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Initial level: | $39.81
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Pricing date: | March 28
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Settlement date: | March 31
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Agents: | HSBC Securities (USA) Inc. and UBS Financial Services Inc.
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Fees: | 2%
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Cusip: | 40435H715
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