Published on 6/27/2012 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $1.68 million buffered performance plus notes on S&P 500
By Susanna Moon
Chicago, June 27 - HSBC USA Inc. priced $1.68 million of 0% buffered performance plus securities due June 30, 2016 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above the initial level, the payout at maturity will be par plus the greater of any gain and the minimum upside return of 33%.
Investors will receive par if the index falls by up to 10% and will lose 1% for every 1% decline beyond 10%.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Buffered performance plus securities
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Underlying index: | S&P 500
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Amount: | $1,678,000
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Maturity date: | June 30, 2016
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index ends flat or gains, par plus return, floor of 33%; par if index falls by up to 10%; 1% loss for every 1% index decline beyond 10%
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Initial index level: | 1,313.72
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Pricing date: | June 25
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Settlement date: | June 28
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 3.6%
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Cusip: | 4042K1P72
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