By Marisa Wong
Madison, Wis., Oct. 29 - HSBC USA Inc. priced $1.38 million of 0% buffered Accelerated Market Participation Securities due April 30, 2014 linked to the SPDR S&P Metals & Mining exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus double any gain in the fund, subject to a maximum return of 22%. Investors will receive par if the fund share price declines by 10% or less and will lose 1% for every 1% that it 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 ETF: | SPDR S&P Metals & Mining ETF
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Amount: | $1.38 million
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Maturity: | April 30, 2014
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 200% of any fund gain, capped at 22%; par if fund declines by 10% or less; 1% loss for every 1% drop beyond 10%
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Initial price: | $44.66
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Pricing date: | Oct. 25
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Settlement date: | Oct. 30
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 2%
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Cusip: | 4042K15U3
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