Published on 4/26/2012 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $770,000 buffered uncapped market notes tied to S&P 500
By Marisa Wong
Madison, Wis., April 26 - HSBC USA Inc. priced $770,000 of 0% buffered uncapped market participation securities due April 28, 2016 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 any index gain.
Investors will receive par if the index falls by up to 22% and will lose 1% for every 1% decline beyond the 22% buffer.
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: | $770,000
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Maturity: | April 28, 2016
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus any index gain; par if index falls by up to 22%; 1% for every 1% drop beyond buffer
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Initial 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: | 4042K1B93
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