Published on 7/26/2011 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $491,000 performance securities on Dow Jones Industrials
By Toni Weeks
San Diego, July 26 - HSBC USA Inc. plans to price 0% performance securities due July 31, 2017 linked to the Dow Jones Industrial Average, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus any index gain, up to a return cap of 62%.
Investors will be exposed to losses, with a minimum payout of $950 per $1,000 principal amount.
HSBC Securities (USA) Inc. will be the agent.
Issuer: | HSBC USA Inc.
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Issue: | Performance securities
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Underlying index: | Dow Jones Industrial Average
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Amount: | $491,000
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Maturity: | July 31, 2017
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus any index gain, up to a return cap of 62%; exposure to losses, with minimum payout of $950 per $1,000 principal amount
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Initial level: | 12,681.16
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Pricing date: | July 22
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Settlement date: | July 29
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 3.5%
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Cusip: | 4042K1KG7
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