Published on 11/29/2012 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $3.41 million airbag performance notes linked to S&P 500
By Marisa Wong
Madison, Wis., Nov. 29 - HSBC USA Inc. priced $3.41 million of 0% airbag performance securities due Nov. 30, 2022 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 182% of any gain in the index.
Investors will receive par if the index falls by up to 50% and will lose 2% for each 1% decline beyond 50%.
UBS Financial Services Inc. and HSBC Securities (USA) Inc. are the agents.
Issuer: | HSBC USA Inc.
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Issue: | Airbag performance securities
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Underlying index: | S&P 500
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Amount: | $3,413,000
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Maturity: | Nov. 30, 2022
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Coupon: | 0%
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Price: | Par of $1,000
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Payout at maturity: | Par plus 182% of any index gain; par for losses up to 50%; 2% loss for each 1% drop beyond 50%
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Initial level: | 1,398.94
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Trigger level: | 50% of initial level
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Pricing date: | Nov. 27
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Settlement date: | Nov. 30
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Agents: | UBS Financial Services Inc. and HSBC Securities (USA) Inc.
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Fees: | 5%
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Cusip: | 40433T679
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