Published on 4/26/2012 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $2.1 million buffered uncapped market notes tied to S&P 500
By Susanna Moon
Chicago, April 26 - HSBC USA Inc. priced $2.1 million of 0% buffered uncapped market participation securities due April 28, 2016 linked to the S&P 500 index, according to a 424B2 with the Securities and Exchange Commission.
If the index finishes at or above the initial level, the payout at maturity will be par plus the greater of any gain or the minimum upside return of 33%.
Investors will receive par if the index falls by up to 10% and will lose 1% for every 1% decline beyond 10%.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Buffered uncapped market participation securities
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Underlying index: | S&P 500
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Amount: | $2,096,000
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Maturity date: | April 28, 2016
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index ends flat or gains, par plus the greater of the return and 33%; par if index falls by up to 10%; 1% loss for every 1% index decline beyond 10%
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Initial index level: | 1,371.97
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Pricing date: | April 24
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Settlement date: | April 27
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 3.6%
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Cusip: | 4042K1D91
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