Published on 8/2/2012 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $1.37 million 7% autocallable yield notes linked to S&P 500, Russell
By Angela McDaniels
Tacoma, Wash., Aug. 2 - HSBC USA Inc. priced $1.37 million of 7% autocallable yield notes due Aug. 6, 2013 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The notes will be called at par if both indexes close at or above their initial levels on any quarterly call observation date.
The payout at maturity will be par unless either index closes below its trigger level, 60% of its initial level, during the life of the notes and the return of the worst-performing index is negative, in which case investors will receive par plus the return of the worst-performing index.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
|
Issue: | Autocallable yield notes
|
Underlying indexes: | S&P 500 and Russell 2000
|
Amount: | $1,365,000
|
Maturity: | Aug. 6, 2013
|
Coupon: | 7%, payable quarterly
|
Price: | Par
|
Payout at maturity: | Par unless either index closes below trigger level during life of notes and return of worst-performing index is negative, in which case par plus return of worst-performing index
|
Call: | At par if both indexes close at or above their initial levels on Nov. 1, 2012, Feb. 1, 2013, May 1, 2013 or Aug. 1, 2013
|
Initial index levels: | 1,379.32 for S&P 500 and 786.94 for Russell 2000
|
Trigger level: | 60% of index's initial level
|
Pricing date: | July 31
|
Settlement date: | Aug. 3
|
Agent: | HSBC Securities (USA) Inc.
|
Fees: | 0.6%
|
Cusip: | 4042K1Y56
|
© 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.