Published on 4/2/2012 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $37.3 million Accelerated Return Notes linked to Energy Select
By Angela McDaniels
Tacoma, Wash., April 2 - HSBC USA Inc. priced $37.3 million of 0% Accelerated Return Notes due May 31, 2013 linked to the Energy Select Sector index, according to a 424B2 filing with the Securities and Exchange Commission.
Bank of America Merrill Lynch is the agent.
The payout at maturity will be par of $10 plus triple any increase in the index level, subject to a maximum return of 19.05%. Investors will be fully exposed to any decline in the index.
The final index level will be the average of the index's closing levels on the five trading days ending May 28, 2013.
Issuer: | HSBC USA Inc.
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Issue: | Accelerated Return Notes
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Underlying index: | Energy Select Sector index
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Amount: | $37,296,960
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Maturity: | May 31, 2013
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus triple any index gain, up to maximum return of 19.05%; full exposure to any index decline
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Initial index level: | 714.61
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Final index level: | Average of index's closing levels on the five trading days ending May 28, 2013
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Pricing date: | March 29
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Settlement date: | April 5
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Agent: | Bank of America Merrill Lynch
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Fees: | 2%
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Cusip: | 40433K421
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