By Jennifer Chiou
New York, June 25 - HSBC USA Inc. priced $3.95 million of 0% best of performance notes due June 26, 2014 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
A trigger event will occur if the index falls below the barrier level, 50% of the initial level.
If a trigger event has occurred, the payout at maturity will be par plus any index gain. Investors will receive par for losses up to 10% and will share in losses beyond 10%.
If a trigger event does not occur, the payout will be par plus the greater of the 25% contingent minimum return or the index return.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Five-year best of performance notes
|
| Underlying index: | S&P 500
|
| Amount: | $3.95 million
|
| Maturity: | June 26, 2014
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If a trigger event occurs, par plus any index gain, par for losses up to 10% and full exposure to losses beyond 10%; if no trigger event occurs, par plus greater of 25% or index return
|
| Initial level: | 895.10
|
| Trigger level: | 447.55, 50% of initial price
|
| Pricing date: | June 23
|
| Settlement date: | June 26
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 3.8%
|
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