Published on 3/30/2012 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $14.33 million Leveraged Index Return Notes tied to S&P 100
By Marisa Wong
Madison, Wis., March 30 - HSBC USA Inc. priced $14.33 million of 0% Leveraged Index Return Notes due March 27, 2015 linked to the S&P 100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10.00 plus 125% of any index gain.
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: | Leveraged Index Return Notes
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Underlying index: | S&P 100
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Amount: | $14,329,410
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Maturity: | March 27, 2015
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Coupon: | 0%
|
Price: | Par
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Payout at maturity: | Par plus 125% of any index gain; par if index falls by up to 10%; exposure to losses beyond 10%
|
Initial level: | 638.47
|
Threshold level: | 574.62, 90% of initial level
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Pricing date: | March 29
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Settlement date: | April 5
|
Agent: | Bank of America Merrill Lynch
|
Fees: | 2.25%
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Cusip: | 40433K413
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