By Jennifer Chiou
New York, Nov. 1- HSBC USA Inc. priced $1.26 million of 0% digital return knock-out buffer notes due Nov. 12, 2013 linked to the Polish zloty relative to the dollar, according to a 424B2 filing with the Securities and Exchange Commission.
If the currency falls by more than 15%, the payout at maturity will be par plus the return, with exposure to any losses.
Otherwise, the payout will be par plus the digital return of 10%.
HSBC Securities (USA) Inc. is the underwriter with J.P. Morgan Securities LLC as the agent.
Issuer: | HSBC USA Inc.
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Issue: | Digital return knock-out buffer notes
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Underlying currency: | Polish zloty
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Amount: | $1.26 million
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Maturity: | Nov. 12, 2013
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus return, with exposure to any losses, if the currency falls by more than 15%; otherwise, par plus 10%
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Initial rate: | 3.20
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Pricing date: | Oct. 26
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Settlement date: | Nov. 2
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Agents: | HSBC Securities (USA) Inc. with J.P. Morgan Securities LLC
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Fees: | 1%
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Cusip: | 4042K17K3
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