Published on 9/27/2011 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $5.14 million buffered AMPS linked to two indexes, ETF
By Marisa Wong
Madison, Wis., Sept. 27 - HSBC USA Inc. priced $5.14 million of 0% buffered Accelerated Market Participation Securities due March 28, 2013 linked to an equity basket, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes equal weights of the S&P 500 index, the Russell 2000 index and the iShares MSCI EAFE index fund.
The payout at maturity will be par plus 150% of any basket gain, subject to a cap of 24%.
Investors will receive par if the basket declines by up to 10% and will lose 1% for every 1% decline beyond 10%.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Buffered Accelerated Market Participation Securities
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Underlying components: | S&P 500 index, Russell 2000 index and iShares MSCI EAFE index fund, all equally weighted
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Amount: | $5,141,000
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Maturity: | March 28, 2013
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.5 times any basket gain, capped at 24%; par if basket falls by up to 10%; 1% loss for every 1% drop beyond 10%
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Initial levels: | 1,136.43 for S&P 500; 652.43 for Russell 2000; $47.19 for iShares MSCI EAFE
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Pricing date: | Sept. 23
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Settlement date: | Sept. 28
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 0.6%
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Cusip: | 4042K1NS8
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