Published on 3/29/2012 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $7.66 million buffered return optimization securities linked to S&P 500
By Toni Weeks
San Diego, March 29 - HSBC USA Inc. priced $7.66 million of 0% buffered return optimization securities due March 31, 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 gain in the index, up to a maximum return of 22.26%.
Investors will receive par if the index falls by up to 10% and will be exposed to any losses beyond the 10% buffer.
HSBC Securities (USA) Inc. will be the underwriter, with UBS Financial Services Inc. as the agent.
Issuer: | HSBC USA Inc.
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Issue: | Buffered return optimization securities
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Underlying index: | S&P 500
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Amount: | $7,656,680
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Maturity: | March 31, 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 22.26%; par for declines up to 10%; 1% loss for every 1% drop beyond 10%
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Initial level: | 1,412.52
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Pricing date: | March 27
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Settlement date: | March 30
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Underwriter: | HSBC Securities (USA) Inc. with agent UBS Financial Services Inc.
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Fees: | 2%
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Cusip: | 40433K330
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