Published on 1/20/2012 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $1.74 million buffered return optimization securities linked to gold
By Angela McDaniels
Tacoma, Wash., Jan. 20 - HSBC USA Inc. priced $1.74 million of 0% buffered return optimization securities due Jan. 23, 2014 linked to the price of gold, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus 1.5 times any percentage increase in the price of gold, subject to a maximum return of 24%. Investors will receive par if gold declines by 10% or less and will lose 1% for every 1% that it declines beyond 10%.
HSBC Securities (USA) Inc. is the underwriter with UBS Financial Services Inc. as dealer.
Issuer: | HSBC USA Inc.
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Issue: | Buffered return optimization securities
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Underlying commodity: | Gold
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Amount: | $1.74 million
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Maturity: | Jan. 23, 2014
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 150% of any gain in gold price, up to maximum return of 24%; par if price declines by 10% or less; 1% loss for every 1% that gold declines beyond 10%
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Initial price: | $1,647
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Pricing date: | Jan. 18
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Settlement date: | Jan. 23
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Underwriter: | HSBC Securities (USA) Inc. with UBS Financial Services Inc. as dealer
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Fees: | 2%
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Cusip: | 40433K629
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