Published on 12/23/2011 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $1.44 million buffered performance plus notes linked to Dow
By Angela McDaniels
Tacoma, Wash., Dec. 23 - HSBC USA Inc. priced $1.44 million of 0% buffered performance plus securities due Dec. 26, 2014 linked to the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is greater than or equal to zero, the payout at maturity will be par plus the greater of the index return and 30%. Investors will receive par if the index declines by 10% or less and will lose 1% for every 1% that the index declines beyond 10%.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Buffered performance plus securities
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Underlying index: | Dow Jones industrial average
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Amount: | $1,439,000
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Maturity date: | Dec. 26, 2014
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus greater of 30% and index return if index return is greater than or equal to zero; par if index falls by up to 10%; 1% loss for every 1% index declines beyond 10%
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Initial index level: | 12,107.74
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Pricing date: | Dec. 21
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Settlement date: | Dec. 27
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 1.2%
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Cusip: | 4042K1TK9
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