Published on 5/29/2012 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $30.46 million Accelerated Return Notes linked to gold
By Susanna Moon
Chicago, May 29 - HSBC USA Inc. priced $30.46 million of 0% Accelerated Return Notes due Aug. 1, 2013 linked to the gold spot price, according to a 424B2 with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus triple any gain in the price of gold, up to a maximum return of 18.6%.
Investors will be exposed to any losses.
Bank of America Merrill Lynch will be the agent.
Issuer: | HSBC USA Inc.
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Issue: | Accelerated Return Notes
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Underlying asset: | Gold
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Amount: | $30,456,000
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Maturity: | Aug. 1, 2013
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 300% of any gain in gold, capped at 18.6%; exposure to any losses
|
Initial level: | 1,568.50
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Pricing date: | May 24
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Settlement date: | June 1
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Underwriter: | Bank of America Merrill Lynch
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Fees: | 2%
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Cusip: | 40433M807
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