Published on 1/26/2012 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $6.23 million buffered AMPS linked to S&P 500
By Toni Weeks
San Diego, Jan. 26 - HSBC USA Inc. priced $6.23 million of 0% buffered Accelerated Market Participation Securities due July 29, 2013 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus two times any gain in the index, subject to a cap of 19%.
Investors will receive par if the index falls by up to 10% and will be exposed to declines 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 index: | S&P 500
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Amount: | $6,232,000
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Maturity date: | July 29, 2013
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 200% of any index gain, capped at 19%; par for declines in the index of up to 10%; exposure to losses beyond 10%
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Initial level: | 1,314.65
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Pricing date: | Jan. 24
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Settlement date: | Jan. 27
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 0.6%
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Cusip: | 4042K1UL5
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