Published on 11/30/2012 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $24.86 million capped Leveraged Index Return Notes on silver
By Jennifer Chiou
New York, Nov. 30 - HSBC USA Inc. priced $24,856,750 of 0% capped Leveraged Index Return Notes due Dec. 5, 2014 linked to the silver spot price, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus double any silver price gain, up to a maximum return of 21.05%.
Investors will receive par if the silver price falls by up to 10% and will be exposed to any losses beyond 10%.
Bank of America Merrill Lynch is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Capped Leveraged Index Return Notes
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Underlying asset: | Silver
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Amount: | $24,856,750
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Maturity: | Dec. 5, 2014
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 200% of any silver price gain, capped at 21.05%; par if silver price falls by 10% or less; 1% loss per 1% drop beyond 10%
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Initial level: | 3,376
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Threshold level: | 3,038.40, 90% of initial level
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Pricing date: | Nov. 29
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Settlement date: | Dec. 6
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Agent: | Bank of America Merrill Lynch
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Fees: | 2%
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Cusip: | 40433T711
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