Published on 8/30/2012 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $2.47 million autocallables on S&P 500, iShares MSCI EAFE
By Susanna Moon
Chicago, Aug. 30 - HSBC USA Inc. priced $2.47 million of autocallable notes due Aug. 31, 2015 linked to a basket containing equal weights of the S&P 500 index and the iShares MSCI EAFE index fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an annualized call premium if basket closes at or above the initial levelson any yearly call observation date.
The payout at maturity will be par unless the basket falls by more than 10%, in which case investors will be exposed to any losses beyond 10%.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Autocallable notes
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Underlying basket: | S&P 500 index and the iShares MSCI EAFE index fund, equally weighted
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Amount: | $2,473,000
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Maturity: | Aug. 31, 2015
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par unless basket falls by 10% or more, in which case par plus return and 10%
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Call: | At par plus 10% per year if basket closes at or above initial level on Aug. 27, 2013, Aug. 26, 2014 and Aug. 26, 2015
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Initial levels: | 1,409.30 for S&P, $52.08 for fund
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Pricing date: | Aug. 28
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Settlement date: | Aug. 31
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Agent: | HSBC Securities (USA) Inc.
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Fees: | None
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Cusip: | 4042K13D
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