Published on 1/6/2012 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $9.8 million Accelerated Return Notes on MSCI EM via Merrill
By Susanna Moon
Chicago, Jan. 6 - HSBC USA Inc. priced $9.8 million of 0% Accelerated Return Notes due Feb. 25, 2013 linked to the MSCI Emerging Markets index, according to a 424B2 filing with the Securities and Exchange Commission.
Bank of America Merrill Lynch is the agent.
The payout at maturity will be par of $10.00 plus triple any gain in the index, up to a maximum payment of $12.55 per note.
Investors will be exposed to any losses.
Issuer: | HSBC USA Inc.
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Issue: | Accelerated Return Notes
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Underlying index: | MSCI Emerging Markets index
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Amount: | $9,802,540
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Maturity: | Feb. 25, 2013
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 300% of any index gain, return capped at 25.5%; full exposure to losses
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Initial level: | 937.54
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Pricing date: | Jan. 4
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Settlement date: | Jan. 11
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Agent: | Bank of America Merrill Lynch
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Fees: | 2%
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Cusip: | 40433K603
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