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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.
Issue:Capped gears
Underlying ETF:iShares MSCI Emerging Markets ETF
Amount:$6,981,500
Maturity:May 31, 2018
Coupon:0%
Price:Par
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
Initial level:$39.81
Pricing date:March 28
Settlement date:March 31
Agents:HSBC Securities (USA) Inc. and UBS Financial Services Inc.
Fees:2%
Cusip:40435H715

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