Published on 4/30/2012 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $62.61 million Capped Leveraged Index Return Notes tied to S&P 500
By Susanna Moon
Chicago, April 30 - HSBC USA Inc. priced $62.61 million of 0% Capped Leveraged Index Return Notes due April 25, 2014 linked to the S&P 500 index, according to a 424B2 with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus double any index gain, up to a maximum return of 21.5%.
Investors receive par if the index falls by up to 10% and will be fully exposed to any losses if the index declines beyond 10%.
Bank of America Merrill Lynch will be the agent.
Issuer: | HSBC USA Inc.
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Issue: | Capped Leveraged Index Return Notes
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Underlying index: | S&P 500
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Amount: | $62,612,770
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Maturity: | April 25, 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 21.5%; par if index falls by 10% or less; full exposure to any losses if index drops by more than 10%
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Initial level: | 1,399.98
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Threshold level: | 1,259.98, or 90% of initial level
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Pricing date: | April 26
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Settlement date: | May 3
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Underwriter: | Bank of America Merrill Lynch
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Fees: | 2%
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Cusip: 06051P869
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