New Issue: HSBC prices $15 million 6.3% buffered notes linked to Russell 2000

By Angela McDaniels

Tacoma, Wash., May 21 - HSBC USA Inc. priced $15 million of 6.3% buffered fixed-rate notes due May 22, 2013 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par if the final index level is greater than or equal to the buffer level, which is 80% of the initial level. Otherwise, investors will lose 1.25% for every 1% that the index declines below the buffer level.

HSBC Securities (USA) Inc. is the underwriter.

Issuer:	HSBC USA Inc.
Issue:	Buffered fixed-rate notes
Underlying index:	Russell 2000
Amount:	$15 million
Maturity:	May 22, 2013
Coupon:	6.3%, payable quarterly
Price:	Par
Payout at maturity:	Par unless index declines by more than 20%, in which case 1.25% loss for every 1% that index declines beyond 20%
Initial index level:	754.33
Pricing date:	May 17
Settlement date:	May 22
Underwriter:	HSBC Securities (USA) Inc.
Fees:	0.15%
Cusip:	4042K1N82

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.