Published on 8/30/2012 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $11.84 million contingent return optimization notes on S&P
By Jennifer Chiou
New York, Aug. 30 - HSBC USA Inc. priced $11,837,060 of 0% contingent return optimization securities due Aug. 29, 2014 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level is greater than or equal to the trigger level, 75% of the initial index level, the payout at maturity will be par of $10 plus the greater of 10% and the index return. The payout will be subject to a maximum return of 25.66%.
If the final index level is less than the trigger level, investors will be fully exposed to the decline.
UBS Financial Services Inc. and HSBC Securities (USA) Inc. are the agents.
Issuer: | HSBC USA Inc.
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Issue: | Contingent return optimization securities
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Underlying index: | S&P 500
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Amount: | $11,837,060
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Maturity: | Aug. 29, 2014
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If final level is at or above trigger level, par plus greater of index return and 10%, return capped at 25.66%; if final level is below trigger level, full exposure to decline from initial level
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Initial level: | 1,409.30
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Trigger level: | 1,056.98, 75% of initial level
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Pricing date: | Aug. 28
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Settlement date: | Aug. 31
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Agents: | UBS Financial Services Inc. and HSBC Securities (USA) Inc.
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Fees: | 2%
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Cusip: | 40433M310
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