Published on 10/31/2012 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $42.34 million Capped Leveraged Index Return Notes linked to Silver
New York, Oct. 31 - HSBC USA Inc. priced $42.34 million of 0% Capped Leveraged Index Return Notes due Nov. 4, 2014 tied to the Silver spot price, according to a 424B2 filing with the Securities and Exchange Commission.
If the return is positive, the payout at maturity will be par plus 200% of the return, subject to a maximum payout of par plus 30%. Investors will receive par if the price falls by up to 10% and will lose 1% for every 1% decline in the price of silver beyond 10%.
Merrill Lynch & Co. is the underwriter.
Issuer: | HSBC USA Inc.
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Issue: | Capped Leveraged Index Return Notes
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Underlying asset: | Silver spot price
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Amount: | $42,338,780
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Maturity: | Nov. 4, 2014
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If return is positive, par plus 200% of return, subject to maximum payout of par plus 30%; par if silver falls by up to 10%; 1% loss for every 1% decline beyond 10%
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Initial level: | 3,167.00
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Pricing date: | Oct. 26
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Settlement date: | Nov. 2
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Underwriters: | Merrill Lynch & Co.
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Fees: | 2%
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Cusip: | 40433T505
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