Published on 11/30/2012 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $40.42 million capped Leveraged Index Return Notes on S&P 500
By Jennifer Chiou
New York, Nov. 30 - HSBC USA Inc. priced $40,424,770 of 0% capped Leveraged Index Return Notes due Nov. 26, 2014 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 double any index gain, up to a maximum return of 15.34%.
Investors will receive par if the index 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 index: | S&P 500
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Amount: | $40,424,770
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Maturity: | Nov. 26, 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 index gain, capped at 15.34%; par if index falls by 10% or less; 1% loss per 1% drop beyond 10%
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Initial level: | 1,415.95
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Threshold level: 1,274.36, 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: | 40433T729
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