Published on 6/25/2012 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $1.98 million 50/150 performance notes linked to S&P 500 Low Volatility
By Angela McDaniels
Tacoma, Wash., June 25 - HSBC USA Inc. priced $1.98 million of 0% 50/150 performance notes due June 26, 2017 linked to the S&P 500 Low Volatility index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is greater than or equal to zero, the payout at maturity will be par plus 1.5% for every 1% that the index increases. If the index return is less than zero, the payout will be par minus 0.5% for every 1% that the index declines.
HSBC Securities (USA) Inc. is the underwriter.
Issuer: | HSBC USA Inc.
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Issue: | 50/150 performance notes
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Underlying index: | S&P 500 Low Volatility index
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Amount: | $1,984,000
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Maturity: | June 26, 2017
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index return is greater than or equal to zero, par plus 1.5% for every 1% that index increases; if index return is less than zero, par minus 0.5% for every 1% that index declines
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Initial index level: | 4,388.29
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Pricing date: | June 21
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Settlement date: | June 26
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Underwriter: | HSBC Securities (USA) Inc.
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Fees: | 4.5%
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Cusip: | 4042K1S20
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