Published on 9/29/2011 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $36.41 million trigger performance notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., Sept. 29 - HSBC USA Inc. priced $36.41 million of 0% trigger performance securities due Sept. 30, 2014 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par of $10 plus 108.5% of the index return. If the index return is zero or negative and the final index level is at least 60% of the initial index level, investors will receive par. If the final index level is less than 60% of the initial index level, investors will be fully exposed to the decline from the initial level.
HSBC Securities (USA) Inc. is the agent with UBS Financial Services Inc. as dealer.
Issuer: | HSBC USA Inc.
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Issue: | Trigger performance securities
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Underlying index: | S&P 500
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Amount: | $36,405,870
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Maturity: | Sept. 30, 2014
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 108.5% of any increase in index; par if index falls by 40% or less; full exposure to decline from initial level if index falls beyond 40%
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Initial index level: | 1,175.38
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Pricing date: | Sept. 27
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Settlement date: | Sept. 30
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Agent: | HSBC Securities (USA) Inc. is the agent with UBS Financial Services Inc. as dealer
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Fees: | 2.5%
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Cusip: | 40433C486
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