Published on 1/30/2012 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $4.36 million trigger performance notes linked to S&P 500
By Toni Weeks
San Diego, Jan. 30 - HSBC USA Inc. priced $4.36 million of 0% trigger performance securities due Jan. 31, 2022 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 223% of the index return.
Investors will receive par if the index falls by up to 50% and will be fully exposed to losses from the initial level if it falls more than 50%.
HSBC Securities (USA) Inc. is the underwriter, and UBS Financial Services Inc. is the agent.
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: | $4,359,110
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Maturity: | Jan. 31, 2022
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If index return is positive, par plus 223% of index return; par if index falls by up to 50%; full exposure to losses if index falls more than 50%
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Initial level: | 1,318.43
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Trigger level: | 659.22, 50% of initial level
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Pricing date: | Jan. 26
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Settlement date: | Jan. 31
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Underwriter: | HSBC Securities (USA) Inc. with UBS Financial Services Inc. as agent
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Fees: | 5%
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Cusip: | 40433K678
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