Published on 10/21/2011 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $63.4 million dual index upside notes on S&P, Euro Stoxx
By Jennifer Chiou
New York, Oct. 21 - HSBC USA Inc. priced $63.4 million of 0% dual index upside notes due Nov. 7, 2012 linked to the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be equal to the cash settlement value, which is the lesser of (a) the return of the S&P 500 index and (b) 10%, plus the greater of (i) Euro Stoxx 50 return minus 6.35% and (ii) zero.
Investors will share in any losses.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Dual index upside notes
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Underlying indexes: | S&P 500 and Euro Stoxx 50
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Amount: | $63.4 million
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Maturity: | Nov. 7, 2012
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Product of the lesser of (a) the return of the S&P 500 index and (b) 10%, plus the greater of (i) Euro Stoxx 50 return minus 6.35% and (ii) zero; exposure to losses
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Initial levels: | 1,229.50 for S&P, 2,330.08 for Euro Stoxx
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Pricing date: | Oct. 19
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Settlement date: | Oct. 24
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 1%
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Cusip: | 4042K1QW6
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