Published on 9/21/2012 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $25.4 million knock-out buffer notes linked to Euro Stoxx 50
By Susanna Moon
Chicago, Sept. 21 - HSBC USA Inc. priced $25.4 million of 0% knock-out buffer notes due March 24, 2014 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above the 80% knock-in level, the payout at maturity will be par plus the greater of any index gain and a contingent minimum return of 8.72%.
Otherwise, the payout will be par plus the index return with full exposure to losses.
HSBC Securities (USA) Inc. is the underwriter with J.P. Morgan Securities LLC as placement agent.
Issuer: | HSBC USA Inc.
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Issue: | Knock-out buffer notes
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Underlying index: | Euro Stoxx 50
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Amount: | $25.4 million
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Maturity: | March 24, 2014
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If knock-out event does not occur, par plus any index gain, floor of 8.72%; otherwise, par plus return with full exposure to losses
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Knock-out event: | If index finishes below 80% of initial level
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Initial index level: | 2,567.67
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Pricing date: | Sept. 19
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Settlement date: | Sept. 24
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Underwriter: | HSBC Securities (USA) Inc. with J.P. Morgan Securities LLC as placement agent
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Fees: | 0.9%
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Cusip: | 4042K15B5
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