Published on 7/2/2012 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $20.88 million Accelerated Return Notes linked to gold
By Jennifer Chiou
New York, July 2 - HSBC USA Inc. priced $20,881,080 of 0% Accelerated Return Notes due Sept. 4, 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 18.72%.
Investors will be exposed to any losses.
Bank of America Merrill Lynch will be the agent.
Issuer: | HSBC USA Inc.
|
Issue: | Accelerated Return Notes
|
Underlying asset: | Gold
|
Amount: | $20,881,080
|
Maturity: | Sept. 4, 2013
|
Coupon: | 0%
|
Price: | Par of $10
|
Payout at maturity: | Par plus 300% of any gain in gold, capped at 18.72%; exposure to any losses
|
Initial level: | 1,558.50
|
Pricing date: | June 28
|
Settlement date: | July 6
|
Underwriter: | Bank of America Merrill Lynch
|
Fees: | 2%
|
Cusip: | 40433M575
|
© 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.