Published on 8/29/2012 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $2.72 million averaging notes linked to S&P 500 Low Volatility
By Angela McDaniels
Tacoma, Wash., Aug. 29 - HSBC USA Inc. priced $2.72 million of 0% averaging notes due Feb. 28, 2018 linked to the S&P 500 Low Volatility index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus the index return, subject to a minimum payout of par.
The index's final level will be the average of its closing levels on the 22 quarterly observation dates.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Averaging notes
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Underlying index: | S&P 500 Low Volatility
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Amount: | $2,721,000
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Maturity: | Feb. 28, 2018
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus index return, subject to minimum payout of par
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Initial index level: | 4,477.23
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Final index level: | Average of index's closing levels on 22 quarterly observation dates
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Pricing date: | Aug. 27
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Settlement date: | Aug. 30
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Underwriter: | HSBC Securities (USA) Inc.
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Fees: | 3.525%
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Cusip: | 4042K1Z48
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